The number of electric vehicles eligible for the full $7,500 US federal tax credit fell to 13 from about two dozen due to new rules taking effect in 2024. The new rules exclude vehicles that use battery components from Chinese manufacturers, and the Inflation Reduction Act phases out the credit for EVs once a manufacturer hits 200,000 sales. Models still eligible for the full credit include the Tesla Model Y, Rivian R1T, Jeep Wrangler 4xe, and Ford F-150 Lightning.
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00:00 It's Benzinga and here's what's on the block.
00:02 The number of electric vehicles eligible for the full $7,500 US federal tax credit fell to 13 from
00:08 about two dozen due to new rules taking effect in 2024. The new rules exclude vehicles that use
00:13 battery components from Chinese manufacturers and the Inflation Reduction Act phases out the credit
00:18 for EVs once a manufacturer hits 200,000 sales. Models still eligible for the full credit include
00:23 the Tesla Model Y, Rivian R1T, Jeep Wrangler 4X, and Ford F-150 Lightning. Models that lost
00:29 eligibility are the Tesla Cybertruck Model 3, Nissan Leaf, Ford e-Transit, and GM Blazer in
00:35 Silverado EV. For all things money visit Benzinga.com