Background News: EVs Eligible for $7,500 Tax Credit in Inflation Reduction Act
EV Tax Credits Clarified: Which Cars Get the Full Benefit?
Only 16 models are now eligible for a full or partial tax credit, which will factor into the vehicle choices for private- and public-sector fleets as well as the vast American retail vehicle market.
April 19, 2023
The list of qualifying electric vehicles will likely change often for the next several years. Some vehicles that have lost all or part of their tax credit could regain it as car builders change suppliers, according to Kelley Blue Book.
Photo: Getty Images / com3alexd
1 min to read
While Congress rewrote the rules governing EV tax credits in a law passed last year to take effect Jan. 1, 2023, it has taken time for agencies to figure out how they’ll carry out the new law.
The new law was confusing, with some changes delayed until now. Congress' intent was to shape the future auto industry while incentivizing Americans to buy electric vehicles. This explainer from Kelley Blue Book lays out the details, including a quick-hit list of qualifying cars and incentive amounts.
For a complete list of updated tax incentives for: new plug-in and fuel cell electric vehicles and used plug-in and fuel cell electric vehicles, check out the Department of Energy’s updated Tax Incentive and Credit Guide.
As to the BIG WHY of all these changes, a report in the Wall Street Journal analyzes the latest plans to favor EV manufacturers who meet new thresholds that require a certain percentage of the battery parts and minerals to come from a qualifying country.
Topics:Fuel Cell VehicleEV Tax Creditsfederal regulationsIncentivesElectric VehiclesIncentives/Grants
Originally posted on Automotive Fleet
More Electric Vehicles
EV Charging Use Is Outpacing Infrastructure Growth
ChargePoint’s 2026 Charging Forward Report points to rising charger use, higher-powered charging, commercial vehicle electrification, and energy-management technology. Here’s what fleets should know.
Read More →
EV Realty Names Henrik Holland President as Charging Platform Expands
The former Prologis Mobility and Shell executive will help expand EV Realty’s truck charging business and move its power-first infrastructure model into autonomous vehicle depots and other fleet sectors.
Read More →
GreenPower Expands New Mexico EV Pilot With Larger Buses, V2G Testing
After logging more than 17,000 electric miles in the first year, New Mexico’s statewide pilot is moving into its second phase with larger vehicles, continued charging evaluations, and more.
Read More →
Can EV-as-a-Service Help Fleets Scale Electrification?
Sustainability Partners CEO Adam Cain explains how matching EVs, charging infrastructure, and duty cycles can help fleets scale electrification.
Read More →
How EV-as-a-Service Is Moving Fleets Beyond Pilots
Adam Cain, president and CEO of Sustainability Partners, explains how EV-as-a-service can help fleets scale deployments by addressing duty-cycle requirements and charging challenges.
Read More →
PowerFlex, The Mobility House Join Forces to Advance Fleet Electrification
Two EV charging providers are joining forces to deliver a broader portfolio of energy management and fleet electrification solutions.
Read More →
Ford Retools Louisville Plant for Fathom Electric Truck Production
Ford's $2 billion Louisville Assembly Plant overhaul introduces a three-part assembly process for the Fathom midsize electric truck, with production scheduled to begin in 2027.
Read More →
Merchants Fleet Reports 290M EV Miles as Fleets Navigate Changing Electrification Market
From millions in operating savings to hundreds of millions of EV miles, Merchants Fleet’s latest report reveals what’s working and what’s changing in fleet electrification.
Read More →
California District Commits to Electrify 25% of School Bus Fleet by 2028
One of the nation's largest school bus electrification projects to date demonstrates how grants, charging infrastructure, and public-private partnerships can help fleets transition to EVs at scale.
Read More →
Aptera Orders Bodies and Chassis for Its First 40 Production Vehicles
Aptera Motors Corp. has issued purchase orders for the major structural components of its first 40 vehicles, and body and chassis components are expected to begin arriving in October.
Read More →