Exploring Electric Vehicle Tax Credits: Check if Your Next EV Qualifies for the Full $7500 Benefit

Love them or hate them, electric vehicles appear to be the way forward. The U.S. government is placing greater emphasis on the shift, as evidenced by the EPA’s release of a comprehensive list of electric vehicles eligible for tax incentives, which became effective on April 18.

We have compiled a comprehensive list of every electric vehicle that qualifies for the maximum $7500 incentive. Please find the list below. In order to keep the list concise, we have excluded plug-in hybrid vehicles from the story. However, you can find them in the list provided above. Several electric vehicles are currently available for purchase, while others are anticipated to be released later in the year.

New Rules Limit EV Tax Credit: Only 4 Models Qualify for Full $7500

UPDATE 2/14/2024: With the implementation of new battery sourcing rules on January 1, 2024, the number of electric vehicles that qualify for the federal government’s full $7500 tax credit has significantly decreased from 14 to just four.

Remaining eligible for the credit are the Ford F-150 Lightning, the Tesla Model 3, the Model X, and the Model Y. On January 3, 2024, General Motors announced that it will be offering a $7500 discount on new EVs.

This discount will remain in effect until the manufacturer can secure alternative sources to make the cars eligible once again. To gain a deeper understanding of how EV tax credits function, please refer to our specialized article available here.

To get a more in-depth understanding of the four vehicles that are still eligible for a credit, you can read our article here.

UPDATE 4/25/2023: We have made a correction to the story regarding the eligibility of the Mustang Mach-E for the full $7500 credit. Customers who registered a Mach-E between December 31, 2022 and April 18, 2023 are eligible for the complete credit. Only