US Treasury Makes Tax Announcement

Yesterday the US Treasury announced Volkswagen, BMW, Nissan, Rivian, Hyundai, and Volvo will lose access to a $7,500 tax credit under new battery sourcing rules. 👎

Ford, Stellantis, and one Tesla model, the Model 3 Standard Range Rear Wheel Drive, will lose half credit but still be eligible for $3,750. Other Tesla models will still be eligible for the full $7,500. 

GM's Bolt and Bolt EUV will both still qualify for the full credit. 💳

👩‍💻 Early data from Q1 shows 65% of EV sales qualify under the price cap and North American assembly requirements, and 90% of those still qualify for at least $3,750 in credits. 

Other vehicles still qualified for the full $7,500 include: 

• Cadillac Lyriq
• Chevy Blazer EV
• Chevy Equinox EV
• Chevy Silverado EV
• Chrysler Pacifica Plug-In Hybrid EV
• Ford E-Transit
• Ford Escape Plug-In Hybrid EV
• Ford F-150 (Extended Range battery and Standard Range battery)
• Lincoln Aviator Grand Touring plug-in hybrid EV
• Tesla Model 3 (Performance Model only)
• Tesla Model Y (All-Wheel Drive, Long Range All-Wheel Drive, and Performance)