More electric vehicles lose tax credits due to battery sourcing rules in US
Tesla deliveries to hit record, but fall short of Elon Musk’s aspirations Volkswagen said on Monday it "is in the process of confirming eligibility for a federal EV tax credit for vehicles" after Jan. 1.
"We are optimistic that MY2023 ID.4s and all MY2024 ID.4s will be eligible under the new rules," VW added. BMW, Nissan and Tesla did not immediately comment.
The Treasury said "automakers are adjusting their supply chains to ensure buyers continue to be eligible for the new clean vehicle credit, partnering with allies and bringing jobs and investment back to the United States." SUV allure lifts passenger vehicle sales past 4 million in 2023 Ford Motor said last month its E-Transit would lose the $3,750 tax credit, as would the Mach-E and Lincoln Aviator Grand Touring plug-in hybrid, but its F-150 EV Lighting and the Lincoln Corsair Grand Touring retained credits. General Motors noted all of its EVs would temporarily lose eligibility except the Chevrolet Bolt, adding the Lyriq and Blazer EV are losing the credit because of two minor components.
GM expects after a sourcing change the Lyriq and Blazer EV will regain eligibility in early 2024 and said its Chevrolet Equinox EV, Chevrolet Silverado EV, GMC Sierra EV and Cadillac OPTIQ produced "after the sourcing change will be eligible for the full incentive." Xiaomi showcases SU7 electric sedan, a strong rival to Tesla Model S: All detail The 2022 Inflation Reduction Act law reformed the EV tax credit, requiring vehicles to be assembled in North America to qualify for any tax credits, eliminating nearly 70% of eligible models at the time. Tesla disclosed in December its Model 3 Rear-Wheel Drive and Long Range vehicles would lose federal tax credits starting Jan.
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