Hyundai Motor EVs Secure up to $7,500 in U.S. Tax Credits
Electric vehicles (EVs) from Hyundai Motor Group are now eligible for tax credits of up to $7,500 (approximately 11 million won) per car under the Inflation Reduction Act (IRA), marking the first time the South Korean automaker’s models have qualified…
Newsom Says California Could Offer Electric Vehicle Rebates if Trump Eliminates Federal Tax Credit
California could offer rebates for electric vehicle purchases if the incoming Trump administration eliminates a federal tax credit for people who buy electric cars, Gov. Gavin Newsom said Monday.Newsom, a Democrat, proposed creating a new version of the state’s Clean…
US Loosens Some EV Battery Rules, Potentially Making More EVs Eligible for Tax Credits
The U.S. government on Friday loosened some rules governing electric vehicle tax credits, potentially making more EVs eligible for credits of up to $7,500 but leading critics to accuse the Biden administration of helping China. The Treasury Department announced final…
US Issues $135 Million in Advance EV Tax Rebates Since Jan 1
The U.S. government has reimbursed auto dealers for about $135 million in advance point-of-sale consumer electric vehicle tax credit payments since the start of the year through Feb. 6, the Treasury said on Wednesday. Prior to 2024, U.S. auto buyers…
List of Electric Car Models Eligible for $7,500 Tax Credit is Cut to 13
The number of electric vehicle models eligible for a popular $7,500 consumer tax credit fell sharply as new rules from the Biden administration kicked in on Jan. 1. Narrower criteria reduced the number of qualifying models to 13 from about…
EV Tax Credit Rules Would Clarify Restrictions on Foreign-made Batteries
The Treasury and Energy departments on Friday proposed rules that would establish which electric vehicles will qualify for tax credits under new thresholds aimed to limit battery ingredients that are made in or sourced from adversaries like China.The proposal falls…
EVs With Chinese Parts won’t Qualify for the full $7,500 tax Credit from 2024
The US government has released guidance that will make it harder for EVs to qualify for the full $7,500 tax credit if their batteries contain Chinese components or minerals. New guidance for EV tax creditsA couple of days ago, Electrek…
Switzerland Pulls the Plug on Tax Breaks for EVs
The Swiss Federal Council announced the news yesterday, stating that it is pulling the plug on the country’s 4% import duty exemption, with the decision going into effect on January 1, 2024. Although the exemption has been in place in…
The Nissan Leaf Is Eligible For The Federal EV Tax Credit Again
The Nissan Leaf was one of many electric vehicles to lose the EV tax credit when the current rules went into effect. However, Nissan says that’s no longer the case as of today. The important bit to know right now…
Treasury Department Aims To make It Easier To Get $7,500 EV Tax Credit In 2024
A new proposal by the U.S. Department of the Treasury would make it easier for consumers to get a tax credit when buying a new or used electric vehicle, according to tax and energy experts. Its proposed rules, issued Friday,…
