EXPLAINER: 2023 tax credits for EVs will boost their appeal
2 years ago

EXPLAINER: 2023 tax credits for EVs will boost their appeal

Associated Press  

WASHINGTON — Starting Jan. 1, many Americans will qualify for a tax credit of up to $7,500 for buying an electric vehicle. For at least the first two months of 2023, though, a delay in some of Treasury’s rules will likely make the full credit temporarily available to consumers who meet certain income and price limits. However, the Treasury Department released an initial list of vehicles that meet the requirements to claim the new clean vehicle tax credit beginning Jan. 1, including models from Chrysler, Ford, Jeep, Lincoln, Nissan and Rivian. But because of the requirements for where batteries, minerals and parts must be manufactured, it’s likely that buyers of those vehicles would initially receive only half the tax credit, $3,750. Consumers can receive tax credits of up to $4,000 — or 30% of the vehicle price, whichever is less — for buying EVs that are at least two years old.

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History of this topic

Letters to the Editor: Is the EV tax credit just a subsidy for the wealthy? Readers debate
1 week ago

Letters to the Editor: Is the EV tax credit just a subsidy for the wealthy? Readers debate

LA Times  

An electric vehicle charges at an Electrify America station in Skokie, Ill., in 2023. To the editor: In making the case against the federal tax credit for electric vehicle buyers, Veronique de Rugy stresses the fact that those who purchase EVs are mostly wealthy. To the editor: The Times’ “keep” editorial on the federal EV tax credit and De Rugy’s …

Editorial: Five reasons to keep the federal tax credit for electric vehicles
Trending News
1 week, 6 days ago

Editorial: Five reasons to keep the federal tax credit for electric vehicles

LA Times  

Plug-in vehicles at a Tesla Supercharger location in Santa Monica. The Trump administration has signaled that it plans to end a $7,500 federal tax credit that helps consumers afford electric cars. President-elect Donald Trump‘s transition team is planning to eliminate a $7,500 electric vehicle tax credit that helps consumers afford clean cars while supporting the U.S. auto industry. Opinion Opinion: …

Opinion: The case for killing the tax credit for electric vehicles
1 week, 6 days ago

Opinion: The case for killing the tax credit for electric vehicles

LA Times  

The federal tax credit for electric vehicle purchases has far outlived its purpose and now stands as a glaring example of government overreach and economic inequity. For instance, the Congressional Research Service study noted: “For vehicles purchased in 2021, taxpayers with adjusted gross income greater than $100,000 represented 22% of all filers and received 84% of the credit benefits.” The …

Thinking of buying an EV? You might want to move quickly
2 weeks, 3 days ago

Thinking of buying an EV? You might want to move quickly

CNN  

New York CNN — The best time to buy an electric vehicle may be right now. “If you buy an EV now, you’re not only sure of getting the EV tax credit that might not be there for much longer, you got incentives from automakers that can’t move them,” said Drury. It won’t get any better.” Industry caught in the …

Here's how many EV charging stations Biden has built using $7.5bn of your tax money
1 month, 1 week ago

Here's how many EV charging stations Biden has built using $7.5bn of your tax money

Daily Mail  

The Biden administration has come under fire for its $7.5billion rollout of electric vehicle charging stations - which is moving at a snail's pace. But the sluggish rollout comes as Biden's mandate that the majority of new cars need to be electric by 2032 quickly approaches, though president-elect Donald Trump has signaled he plans to scrap that rule. Americans have …

Auto industry’s shift toward EVs is expected to go on despite Trump threat to kill tax credits
1 month, 2 weeks ago

Auto industry’s shift toward EVs is expected to go on despite Trump threat to kill tax credits

Associated Press  

DETROIT — If President-elect Donald Trump makes good on his threat to kill federal tax credits for electric vehicle purchases, it’s likely that fewer buyers will choose EVs. Trump’s argument — one that most economists dispute — is that a rapid U.S. shift toward electric vehicles would lead to most EVs being made in China and would swell prices for …

Newsom says California could offer electric vehicle rebates if Trump eliminates federal tax credit
1 month, 2 weeks ago

Newsom says California could offer electric vehicle rebates if Trump eliminates federal tax credit

Associated Press  

SACRAMENTO, Calif. — 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. Newsom, a Democrat, proposed creating a new version of the state’s Clean Vehicle Rebate Program, which was phased out in 2023 after funding 594,000 cars and saving 456 million gallons of fuel, …

California to offer EV rebates if Trump kills $7,500 tax credit, Newsom says
1 month, 2 weeks ago

California to offer EV rebates if Trump kills $7,500 tax credit, Newsom says

LA Times  

California is prepared to offer state tax rebates for electric vehicle purchases if the incoming Trump administration scuttles the federal EV tax credit, according to Gov. “We will intervene if the Trump Administration eliminates the federal tax credit, doubling down on our commitment to clean air and green jobs in California,” Newsom said in a statement. The money “could come …

The EV Buyer’s Guide to an Uncertain Future
1 month, 2 weeks ago

The EV Buyer’s Guide to an Uncertain Future

Wired  

It’s a confusing time to be a prospective electric vehicle buyer. Power earlier this year that they’re “overall likely” to consider going electric; 24 percent said they were “very likely.” EVs are definitely better for the environment, they generally cost less to maintain and fuel, and drivers report they’re very fun behind the wheel. Reuters first reported that officials with …

Trump may end the $7,500 EV tax credit. Elon Musk and Tesla would reap the rewards
1 month, 3 weeks ago

Trump may end the $7,500 EV tax credit. Elon Musk and Tesla would reap the rewards

CNN  

New York CNN — The $7,500 tax credit for buyers of electric vehicles could be vanishing early in the new Trump administration, but that might actually be good news for Tesla and its CEO Elon Musk, one of President-elect Donald Trump’s most prominent backers. ‘It will only help Tesla’ Musk signaled during the campaign that he would support ending the …

Treasury rule would expand tax credits for installing electric vehicle chargers
3 months, 3 weeks ago

Treasury rule would expand tax credits for installing electric vehicle chargers

Associated Press  

WASHINGTON — The Biden administration is moving to clarify how homeowners and businesses can receive lucrative tax credits for installing electric vehicle chargers. The proposal announced Wednesday follows guidance issued in January that made tax credits for installing EV chargers available in about two-thirds of the country. “We appreciate the Treasury’s movement on this important incentive, which will help ensure …

EVs face road tax charges from next year - here's what's changing and how much you'll have to pay
7 months, 2 weeks ago

EVs face road tax charges from next year - here's what's changing and how much you'll have to pay

Daily Mail  

Here's our guide to the changes and other tax updates you need to know One of the big benefits of electric vehicles – that helps keep running costs down – is they're exempt from many taxes, including road tax. From 1 April 2025 zero-emission and low emission vehicles will have to start paying VED in the same way as internal …

US loosens some electric vehicle battery rules, potentially making more EVs eligible for tax credits
8 months, 1 week ago

US loosens some electric vehicle battery rules, potentially making more EVs eligible for tax credits

Associated Press  

DETROIT — 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. West Virginia Sen. Joe Manchin, the Democratic chairman of the Senate Energy and Natural Resources Committee, said that through the new rule, the …

EV tax credits are widespread – but extra fees are just as common
9 months, 3 weeks ago

EV tax credits are widespread – but extra fees are just as common

BBC  

EV tax credits are widespread – but extra fees are just as common Many countries are trying to nudge drivers to adopt electric vehicles. "Since EV drivers obviously don't pay a fuel tax, this tax will be their contribution to keep provincial roads maintained and to support other public services," Horner said following the budget's release. Getty Images Across Canada …

For consumers shopping for an EV, new rules mean fewer models qualify for a tax credit
1 year ago

For consumers shopping for an EV, new rules mean fewer models qualify for a tax credit

Associated Press  

DETROIT — U.S. consumers looking to get a tax credit on an electric vehicle purchase have fewer models to choose from under new rules that limit the countries where automakers can buy battery parts and minerals — a potential blow to efforts to reduce planet-warming emissions from autos. And leased EVs aren’t affected by the new rules because they’re considered …

More electric vehicles lose tax credits due to battery sourcing rules in US
1 year ago

More electric vehicles lose tax credits due to battery sourcing rules in US

Live Mint  

Many electric vehicles lost eligibility for tax credits of up to $7,500 after new battery sourcing rules took effect on Monday, including the Nissan Leaf, Tesla Cybertruck All-Wheel Drive and Chevrolet Blazer EV, the U.S. Treasury said. The Treasury said "automakers are adjusting their supply chains to ensure buyers continue to be eligible for the new clean vehicle credit, partnering …

Electric car models eligible for $7,500 tax credit cut to 13
1 year ago

Electric car models eligible for $7,500 tax credit cut to 13

LA Times  

New rules from the Biden administration kicked in Jan. 1, reducing the number of electric vehicles eligible for a $7,500 tax credit. The number of electric vehicle models eligible for a consumer tax credit of as much as $7,500 fell sharply as new rules from the Biden administration kicked in on Jan. 1. The new rules exclude from the tax …

More US auto buyers are turning to hybrids as sales of electric vehicles slow
1 year ago

More US auto buyers are turning to hybrids as sales of electric vehicles slow

Associated Press  

DETROIT — America’s automakers have staked their futures on the notion that electric vehicles will dominate sales in the coming years, spurred by buyers determined to reduce carbon emissions and save on fuel. “I think the hybrid gives them what they’re most looking for.” A LOWER PRICE EV prices have being dropping, mainly a consequence of federal tax credits and …

Why Biden’s EV tax credit could become hard to claim
1 year ago

Why Biden’s EV tax credit could become hard to claim

Live Mint  

The Biden administration hopes to use generous tax credits to boost electric-vehicle sales and push automakers away from Chinese suppliers. The number of EVs for which car buyers can claim the tax credit has already been whittled down by other requirements in the 2022 Inflation Reduction Act, including a provision that eligible vehicles must be assembled in the U.S. Tesla …

New US rules, aimed at curbing China, could make it harder for EV buyers to claim a full tax credit
1 year, 1 month ago

New US rules, aimed at curbing China, could make it harder for EV buyers to claim a full tax credit

Associated Press  

WASHINGTON — Americans could have a harder time finding electric vehicles that qualify for a full $7,500 federal tax credit under new rules proposed Friday that are likely to hinder President Joe Biden’s goal that half of new passenger vehicles sold in the U.S. run on electricity by 2030. The White House hopes the new tax credit rules will encourage …

The easiest way to get a $7,500 tax credit for an electric vehicle? Consider leasing.
1 year, 7 months ago

The easiest way to get a $7,500 tax credit for an electric vehicle? Consider leasing.

Associated Press  

DETROIT — Thanks to a boost from the government, leasing — not buying — is becoming the most affordable way to get your hands on an electric vehicle. Last year’s Inflation Reduction Act provided a federal tax credit of up to $7,500 to use toward an EV. The Treasury Department says that in establishing the tax credit, Congress classified leased …

The Ford F-150 qualifies for an EV tax credit, but good luck getting it
1 year, 8 months ago

The Ford F-150 qualifies for an EV tax credit, but good luck getting it

LA Times  

The Ford F-150 Lightning, displayed at the Philadelphia Auto Show in January 2023, sells in four layers of opulence ranging from $60,000 to $98,100, but only the most stripped-down configurations will qualify for the tax credit. So it was a huge win on Tuesday when Ford’s F-150 Lightning became one of just 10 vehicles to qualify for the full $7,500 …

Editorial: Only a few EVs made the tax credit list. That’s bad news for the climate
1 year, 8 months ago

Editorial: Only a few EVs made the tax credit list. That’s bad news for the climate

LA Times  

President Biden drives a Ford F-150 Lightning truck in 2021. The vehicle is one of only nine fully electric models available today that qualify for the full $7,500 federal tax credit. Expanded electric car subsidies were supposed to be a centerpiece of President Biden’s signature climate law, accelerating emissions reductions by allowing buyers to claim generous tax credits and save …

See the EVs eligible for tax credits - and why most aren’t
1 year, 8 months ago

See the EVs eligible for tax credits - and why most aren’t

Associated Press  

DETROIT — Ten electric or plug-in hybrid vehicles will be eligible for a $7,500 U.S. tax credit, while another seven could get $3,750 under new federal rules that go into effect on Tuesday. The new rules, which govern how much battery minerals and parts can come from countries that don’t have free trade agreements with the U.S., bumped nine vehicles …

New US tax credit rules narrow the list of eligible EVs
1 year, 8 months ago

New US tax credit rules narrow the list of eligible EVs

Hindustan Times  

Ten electric or plug-in hybrid vehicles will be eligible for a $7,500 US tax credit, while another seven could get $3,750 under new federal rules that go into effect on Tuesday. Read here: Tesla slashes prices of Model 3, Model Y vehicles in Singapore But under the Treasury Department rules and other provisions of last year's Inflation Reduction Act, most …

These are the EV models that will get you the full $7,500 tax credit
1 year, 8 months ago

These are the EV models that will get you the full $7,500 tax credit

LA Times  

The Ford F-150 Lightning displayed at the Philadelphia Auto Show. The electric pickup truck is one of just 10 models of electric and plug-in hybrid models that will qualify for the full $7,500 tax credit under President Biden’s new EV rules. They are: Chrysler Pacifica Ford F-150 Lightning pickup Lincoln Aviator Grand Touring Cadillac Lyriq Tesla Model 3 Tesla Model …

Stiff EPA emission limits to boost US electric vehicle sales
1 year, 8 months ago

Stiff EPA emission limits to boost US electric vehicle sales

Associated Press  

WASHINGTON — The Biden administration is proposing stiff new automobile pollution limits that would require up to two-thirds of new vehicles sold in the U.S. to be electric by 2032, a nearly tenfold increase over current electric vehicle sales. A look at what the EPA is proposing, how the plan serves President Joe Biden’s ambitious goal to cut America’s planet-warming …

4 in 10 say next vehicle may be electric: AP-NORC/EPIC poll
1 year, 9 months ago

4 in 10 say next vehicle may be electric: AP-NORC/EPIC poll

Associated Press  

WASHINGTON — Many Americans aren’t yet sold on going electric for their next cars, a new poll shows, with high prices and too few charging stations the main deterrents. But only 19% of U.S. adults say it’s “very” or “extremely” likely they would purchase an electric vehicle the next time they buy a car, according to the poll, and 22% …

AP sources: EPA car rule to push huge increase in EV sales
1 year, 9 months ago

AP sources: EPA car rule to push huge increase in EV sales

Associated Press  

WASHINGTON — The Biden administration will propose strict new automobile pollution limits this week that would require at least 54% of new vehicles sold in the U.S. to be electric by 2030 and as many as two of every three by 2032, according to industry and environmental officials briefed on the plan. An executive order signed by Biden set a …

Letters to the Editor: EV tax credits aren’t perfect, but Biden’s progress on them is worth praising
1 year, 9 months ago

Letters to the Editor: EV tax credits aren’t perfect, but Biden’s progress on them is worth praising

LA Times  

To the editor: While the points raised in The Times’ editorial on new rules for electric vehicle tax credits are true, you are viewing the “glass” of EV incentives as half-empty when it is equally half-full. By the same token, you castigate Sen. Joe Manchin, only one of the slim Senate majority forcing limits to EV incentives, while failing to …

Editorial: Too few electric vehicle models eligible for new tax credit
1 year, 9 months ago

Editorial: Too few electric vehicle models eligible for new tax credit

LA Times  

A vehicle charges at a Tesla Supercharger station in Kokomo, Ind. Many electric vehicles will not qualify for a federal tax credit of up to $7,500 under new battery and critical mineral sourcing requirements released this month by the Treasury Department. Under complicated new rules released Friday by the Treasury Department, only a handful of more than 90 electric car …

Many electric vehicles to lose big tax credit with new rules
1 year, 9 months ago

Many electric vehicles to lose big tax credit with new rules

Associated Press  

WASHINGTON — Fewer new electric vehicles will qualify for a full $7,500 federal tax credit later this year, and many will get only half that, under rules proposed Friday by the U.S. Treasury Department. The new rules take effect April 18 and are aimed at reducing U.S. dependence on China and other countries for battery supply chains for electric vehicles. …

Treasury makes more electric SUVs eligible for tax credits
1 year, 11 months ago

Treasury makes more electric SUVs eligible for tax credits

Associated Press  

WASHINGTON — The Treasury Department said Friday it is making more electric vehicles — including SUVs made by Tesla, Ford and General Motors — eligible for tax credits of up to $7,500 under new vehicle classification definitions. The revised standards for EV tax credits follow lobbying by automakers that had pressed the Biden administration to change vehicle definitions to allow …

Manchin pushes to delay tax credits for electric vehicles
1 year, 11 months ago

Manchin pushes to delay tax credits for electric vehicles

Associated Press  

WASHINGTON — Ratcheting up his criticism, Democratic Sen. Joe Manchin on Wednesday moved to delay new tax credits for electric vehicles, a key feature of President Joe Biden’s landmark climate law. The climate law, officially known as the Inflation Reduction Act, “is first and foremost an energy security bill,” Manchin said, adding that the EV tax credits were supposed “to …

Manchin pushes to delay tax credits for electric vehicles
1 year, 11 months ago

Manchin pushes to delay tax credits for electric vehicles

Associated Press  

WASHINGTON — Ratcheting up his criticism, Democratic Sen. Joe Manchin on Wednesday moved to delay new tax credits for electric vehicles, a key feature of President Joe Biden’s landmark climate law. The climate law, officially known as the Inflation Reduction Act, “is first and foremost an energy security bill,” Manchin said, adding that the EV tax credits were supposed “to …

Manchin pushes to delay tax credits for electric vehicles
1 year, 11 months ago

Manchin pushes to delay tax credits for electric vehicles

LA Times  

Energy Secretary Jennifer Granholm gets into the passenger seat after test driving a Ford F-150 Lighting all-electric vehicle during a visit to the Washington, D.C., Auto Show on Wednesday. Democratic Sen. Joe Manchin III on Wednesday moved to delay new tax credits for electric vehicles, a key feature of President Biden’s landmark climate law. The climate law, officially known as …

The best way to get an electric car discount? Try leasing
2 years ago

The best way to get an electric car discount? Try leasing

LA Times  

Several companies, assisted by new federal tax credits, are hoping drivers will lease or subscribe their way to an electric car. “Buying cars is a big deal.” Zevvy, based in Hayward, Calif., offers six-month EV leases targeted at Uber drivers and others who spend considerable hours behind the wheel, giving them a different path into a Tesla, Chevy Bolt or …

EXPLAINER: 2023 tax credits for EVs will boost their appeal
2 years ago

EXPLAINER: 2023 tax credits for EVs will boost their appeal

Associated Press  

WASHINGTON — Starting Jan. 1, many Americans will qualify for a tax credit of up to $7,500 for buying an electric vehicle. For at least the first two months of 2023, though, a delay in the Treasury Department’s rules for the new benefit will likely make the full credit temporarily available to consumers who meet certain income and price limits. …

2023 tax credits for EVs will boost their appeal
2 years ago

2023 tax credits for EVs will boost their appeal

LA Times  

A new tax credit, starting Jan. 1, is designed to spur sales of electric vehicles and reduce greenhouse emissions. For at least the first two months of 2023, though, a delay in the Treasury Department’s rules for the new benefit probably will make the full credit temporarily available to consumers who meet certain income and price limits. What’s known so …

Rule delay makes big EV tax credit possible early next year
2 years ago

Rule delay makes big EV tax credit possible early next year

Associated Press  

WASHINGTON — People who want to buy an electric vehicle could get a bigger-than-expected tax credit come Jan. 1 because of a delay by the Treasury Department in drawing up rules for the tax breaks. The law’s aim was in part to reduce U.S. reliance on batteries now predominantly made in China and move supply chains to the U.S. Fifty …

Rule delay makes big EV tax credit possible early next year
2 years ago

Rule delay makes big EV tax credit possible early next year

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. As a result, it appears that buyers of EVs …

American interstates are going to get a lot friendlier to EVs
2 years, 3 months ago

American interstates are going to get a lot friendlier to EVs

LA Times  

By year’s end, drivers could start seeing expansions and upgrades to existing highway EV stations in California and other states. All 50 states received final approval Tuesday to begin construction on a nationwide network of EV charging stations that places one roughly every 50 miles along interstate highways, part of the Biden administration’s plan to spur widespread adoption of zero-emission …

New electric vehicle tax credits raise talk of trade war
2 years, 4 months ago

New electric vehicle tax credits raise talk of trade war

Associated Press  

WASHINGTON — A new tax credit for U.S. buyers of qualifying electric vehicles made in North America has ignited the specter of a trade war as a domestic imperative of the Biden administration and Democrats collides with the complex realities of globalization. Earlier this month, when asked about the tax credit, European Commission spokeswoman Miriam Garcia Ferrer said, “we think …

EV tax credit: what it means for car buyers and the U.S. auto industry.
55 years ago

EV tax credit: what it means for car buyers and the U.S. auto industry.

Slate  

Out of the hundreds of billions of dollars in climate spending in the recently passed Inflation Reduction Act, the most-buzzed-about goodie might be the one for drivers: a 10-year tax credit for electric vehicles, up to $7,500 for new electric cars and trucks as well plug-in hybrids, and up to $4,000 for a used electric or plug-in vehicle. As EVs …

Japan auto lobby says it is concerned about new US law on EV credits
2 years, 4 months ago

Japan auto lobby says it is concerned about new US law on EV credits

Hindustan Times  

A major Japanese auto lobby said it was concerned about a new US law that restricts tax credits for electric vehicles to those assembled in North America. New restrictions on battery and mineral sourcing and price and income caps take effect on Jan. 1 that will make all or nearly all EVs ineligible, the Alliance for Automotive Innovation said. New …

What car buyers should know about the coming tax credits for EVs
2 years, 4 months ago

What car buyers should know about the coming tax credits for EVs

LA Times  

An electric vehicle at a charging station at Chula Vista City Hall in March 2021. Starting Jan. 1, low- and middle-income Americans would be eligible for a $7,500 tax credit for buying a new clean-air vehicle — a designation that includes hydrogen fuel-cell vehicles as well as battery electrics — and $4,000 for buying a used one. The legislation doesn’t …

Which EVs qualify for new US tax credit? Websites offer help
2 years, 4 months ago

Which EVs qualify for new US tax credit? Websites offer help

Associated Press  

WASHINGTON — As part of the rollout of a huge new climate, tax and healthcare law, the U.S. government is moving forward with its plan to award new tax credits to electric vehicle purchasers. “So a $7,500 difference is significant on one vehicle compared to another for the part of the market that this is aimed at.” Under the law, …

Most electric vehicles won’t qualify for federal tax credit
2 years, 5 months ago

Most electric vehicles won’t qualify for federal tax credit

Associated Press  

DETROIT — A tax credit of up to $7,500 could be used to defray the cost of an electric vehicle under the Inflation Reduction Act now moving toward final approval in Congress. That’s mainly because of the bill’s requirement that, to qualify for the credit, an electric vehicle must contain a battery built in North America with minerals mined or …

Senate deal should make it easier to buy electric vehicles
2 years, 5 months ago

Senate deal should make it easier to buy electric vehicles

Associated Press  

DETROIT — The surprise deal by Senate Democrats on a slimmed-down bill to support families, boost infrastructure and fight climate change also is likely to jump-start sales of electric vehicles. “The tax credits for electric vehicles in the bill will benefit consumers and cut costs for low- and middle-income families,” the Sierra Club said of the measure, which still must …

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