Electric car tax credit: These are all of the vehicles that still qualify ... for now

  • by:
  • Source: Fox News
  • 08/18/2022
Electric car tax credit: These are all of the vehicles that still qualify ... for now
EV (Electric Vehicle) charging station by Roger Starnes Sr is licensed under Unsplash unsplash.com
With the stroke of a pen on Tuesday, President Biden made a long list of vehicles ineligible for the federal electric car tax credit.

The new rules included within the Inflation Reduction Act immediately eliminate any fully electric or plug-in hybrid vehicle built outside of North America from qualifying.

The Hyundai Ioniq 5, Kia EV6 and Toyota Rav4 Prime are among the models from mass-market brands that are no longer eligible for the tax credit, based on their manufacturing locations.

Additional sale price and income caps go into effect on January 1, 2023, as do restrictions on where the source materials for the batteries come from.
EV (Electric Vehicle) charging station by Roger Starnes Sr is licensed under Unsplash unsplash.com

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