Which Electric Vehicles Qualify for Federal Tax Credits?

The Treasury Department on Thursday published a partial list of new electric and plug-in hybrid cars that will qualify for tax credits of up to $7,500. The list is expected to be updated over the coming days and weeks.

The credits will apply to sedans that cost no more than $55,000 and sport-utility vehicles and pickup trucks that cost up to $80,000. In addition, only buyers who earn less than $150,000 a year as an individual or $300,000 a year as a couple can claim the credits.

The list could change in March, when new rules take effect that require automakers to use battery raw materials and components from North America or a trade ally. Those rules are still being formulated and it’s not clear exactly when they will start to apply.

Here are the cars on the list, by automaker:

Audi

• Q5 TFSI e Quattro plug-in hybrid

Ford Motor

• Ford Escape Plug-in Hybrid

• Ford E-Transit

• Ford F-150 Lightning

• Ford Mustang Mach-E

• Lincoln Aviator Grand Touring plug-in hybrid

• Lincoln Corsair Grand Touring plug-in hybrid

Nissan

• Leaf

Rivian

• R1T

• R1S

Stellantis

• Chrysler Pacifica plug-in hybrid

• Jeep Wrangler 4xe plug-in hybrid

• Jeep Grand Cherokee 4xe plug-in hybrid

Tesla

• Model 3

• Model Y

Volkswagen

• ID.4

Volvo

• Volvo S60 plug-in hybrids

Article source: https://www.nytimes.com/2022/12/29/business/economy/electric-vehiclesfederal-tax-credits.html