As of April 18, only 10 all-electric car models qualify for the full $7,500 tax credit in the US.
Chevrolet; Tesla; Cadillac; Ford
More details about $7,500 tax credits for electric cars came out on Monday.
Tax credits are crucial to encourage more EV adoption given the cars, on average, are expensive.
Here's which electric cars qualify for the EV tax credit starting on April 18.
If you're in the market for an electric car and were banking on tax credits to drop the price by $7,500, you now have fewer options to choose from.
A Tesla Model 3 rolls out of the Tesla factory in Fremont, California.
Mason Trinca for The Washington Post via Getty Images
The US Treasury Department on Monday released a list of electric and plug-in hybrid vehicles that qualify for the full amount of new EV tax credits available, or $,7500, which stem from the massive Inflation Reduction Act passed last August.
Monday's news also detailed which electrified vehicles qualify for half credit, or $3,750.
Whether a plug-in vehicle qualifies for credits is determined by the vehicle's eligibility based on criteria like sticker price, as well as whether it was assembled in the US. The two halves of the credit are related to the origin of its battery and critical minerals components. The industry was especially waiting for details on that, given how complex the EV battery supply chain is — and how much automakers are leaning on China for those materials.
The tax credits are meant to incentivize the auto industry to move their supply chains and invest in electric vehicle development in the US.
Only 10 electric vehicles can get the full credit amount starting April 18, while six others qualify for partial credits. Here's the full list:
Cadillac Lyriq
The 2023 Cadillac Lyriq.
Cadillac
Chevrolet Blazer EV
The Chevrolet Blazer EV SS.
Chevrolet
Chevrolet Bolt
The 2023 Chevrolet Bolt EV.
Chevrolet
Chevrolet Bolt EUV
The 2022 Chevrolet Bolt EUV.
Chevrolet
Chevrolet Equinox EV
The 2024 Chevrolet Equinox EV.
Chevrolet
Chevrolet Silverado EV
The Chevrolet Silverado EV.
Chevrolet
Chrysler Pacifica plug-in hybrid EV
The 2022 Chrysler Pacifica Hybrid minivan.
Chrysler
Ford Escape plug-in hybrid EV
The 2023 Ford Escape plug-in hybrid.
Ford
Ford F-150 Lightning
The 2022 Ford F-150 Lightning Lariat.
Ford
Credit amount: $7,500 (for both the Extended Range battery and Standard Range battery)
Ford Mustang Mach-E
The 2022 Mustang Mach-E.
Ford
Credit amount: $3,750 (for both the Extended Range battery and Standard Range battery)
Jeep Grand Cherokee plug-in hybrid 4xe
The Jeep Grand Cherokee High Altitude 4xe.
Stellantis
Jeep Wrangler plug-in hybrid 4xe
The 2024 Jeep Wrangler Rubicon X 4xe.
Stellantis
Lincoln Aviator Grand Touring plug-in hybrid EV
The Lincoln Aviator Grand Touring plug-in hybrid EV.
Lincoln
Lincoln Corsair Grand Touring plug-in hybrid EV
The Lincoln Corsair Grand Touring plug-in hybrid EV.
Lincoln
Tesla Model 3
A Tesla Model 3.
David Zalubowski/AP
Credit amount: $7,500 for the Performance; $3,750 for the Standard Range Rear Wheel Drive
Tesla Model Y
A Tesla Model Y.
Patrick Pleul/Getty Images
Credit amount: $7,500 (for All-Wheel Drive, Long Range All-Wheel Drive, and Performance)
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