I searched but can't find answer here. On the web I read that after 4/18 the Leaf won't qualify for the tax credit. What is the real deal? Will still qualify for full $7,500, qualify for the reduced $3,750 credit of loose all credits?
Telsa announced that it will lose full creed for the standard range Model 3 but al other Model 3 and Model Y's that currently qualify will still qualify for full $7,500 after 4/18.
This link is the only thing I can find about which cars will qualify after 4/18 and the Leaf is still questionable?
https://www.npr.org/2023/04/15/1169763545/electric-cars-vehicles-tax-credit-climate-bill
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From above link
But beware: being 'eligible' doesn't guarantee a tax credit
In order to get a tax credit, other requirements still apply. Vehicles must meet battery size and vehicle weight requirements and, more significantly, meet these two requirements:
1- Be assembled in North America
Have a sticker price of less than $55,000 for cars and $80,000 for SUVs and trucks
Those rules covered not only the manufacturing of the car, but also the sourcing of the materials that go into the batteries of the vehicles.
The EPA says Americans could save $1 trillion on gas under its auto emissions plan
YOUR MONEY
The EPA says Americans could save $1 trillion on gas under its auto emissions plan
2- One of the $3,750 credits focuses on the raw materials inside batteries: a certain percentage of critical minerals, like lithium, graphite and cobalt, need to be mined or processed in the U.S. or a trade partner.
3- The other $3,750 credit is about battery manufacturing: a certain percentage of the battery components, like anodes, cathodes and electrolytes, need to be manufactured or assembled in North America.
Telsa announced that it will lose full creed for the standard range Model 3 but al other Model 3 and Model Y's that currently qualify will still qualify for full $7,500 after 4/18.
This link is the only thing I can find about which cars will qualify after 4/18 and the Leaf is still questionable?
https://www.npr.org/2023/04/15/1169763545/electric-cars-vehicles-tax-credit-climate-bill
------------------------------------------------
From above link
But beware: being 'eligible' doesn't guarantee a tax credit
In order to get a tax credit, other requirements still apply. Vehicles must meet battery size and vehicle weight requirements and, more significantly, meet these two requirements:
1- Be assembled in North America
Have a sticker price of less than $55,000 for cars and $80,000 for SUVs and trucks
Those rules covered not only the manufacturing of the car, but also the sourcing of the materials that go into the batteries of the vehicles.
The EPA says Americans could save $1 trillion on gas under its auto emissions plan
YOUR MONEY
The EPA says Americans could save $1 trillion on gas under its auto emissions plan
2- One of the $3,750 credits focuses on the raw materials inside batteries: a certain percentage of critical minerals, like lithium, graphite and cobalt, need to be mined or processed in the U.S. or a trade partner.
3- The other $3,750 credit is about battery manufacturing: a certain percentage of the battery components, like anodes, cathodes and electrolytes, need to be manufactured or assembled in North America.