Biden admin says about 20 models will still qualify for EV tax credits
The Inflation Reduction Act , which President Joe Biden signed into law Tuesday, says that if automakers want their electric vehicles to be eligible for tax credits, they’ll need to have final assembly in North America. The law, which takes effect immediately, ends credits for about 70% of the 72 models that were previously eligible, according to the Alliance for Automotive Innovation . About 20 model year 2022 and early model year 2023 vehicles will still make the cut for EV tax credits of up to $7,500 through the end of the year under the new legislation. Any manufacturer that has vehicles assembled in North America and has reached their cap of 200,000 EV credits will not be eligible for the freshly named Clean Vehicle Credit this year. That leaves the following models still eligible: Electric vehicles from model year 2022 eligible for Clean Vehicle Credit Audi Q5 BMW 3-series Plug-In and BMW X5 Chrysler Pacifica PHEV Ford F Series; Ford Mustang Mach E; Ford Transit Van Jeep
