The federal electric vehicle tax credit is set to change on Jan. 1, reflecting the Biden administration’s push to focus financial incentives on domestically-produced vehicles. The tax credit will be capped at $7,500 and exclude certain EVs with international components.
In response to a push by the Biden administration to concentrate the financial incentives on domestically produced vehicles, changes to the federal electric vehicle ( EV ) tax credit are scheduled to go into effect on January 1. Certain EVs that include components from abroad will be excluded from eligibility due to changes to the tax credit, which tops out at$ 7, 500, while… As a result of the Biden administration’s efforts to concentrate the financial incentives on domestically produced vehicles, changes to the federal electric vehicle ( EV ) tax credit are scheduled to go into effect on January 1. Certain EVs that include components from abroad will be excluded from eligibility due to changes to the tax credit, which tops out at$ 7, 500, while…
The federal electric vehicle tax credit is set to change on Jan. 1, reflecting the Biden administration’s push to focus financial incentives on domestically-produced vehicles. The tax credit will be capped at $7,500 and exclude certain EVs with international components.
