Tesla, Nissan, And GM Lose U.S. EV Tax Credits

Many electric vehicles (EV) lost eligibility for tax credits of up to $7,500 after new battery sourcing rules took effect, including the Nissan Leaf, Tesla Cybertruck All-Wheel Drive, some Tesla Model 3s, and Chevrolet Blazer EV, as reported by David Shepardson for Reuters.

The number of EV models qualifying for US EV tax credits fell from 43 to 19. I Photo: Christchurch Nissan

The Treasury issued guidelines in December detailing new battery sourcing requirements aimed at weaning the US electric vehicle supply chain away from China.

The number of EV models qualifying for US EV tax credits fell from 43 to 19. Those figures include different versions of the same vehicle type. Treasury said some manufacturers have yet to submit information on eligible vehicles, which could lead to changes in the list.

The new rules allow buyers to claim the tax credit of up to $7,500 at a participating dealership at the point of sale.

The tax credit sets limits on vehicle price and buyer income to qualify. The Volkswagen ID.4, Tesla Model 3 Rear Wheel Drive, BMW X5 xDrive50e, Audi Q5 PHEV 55, Cadillac Lyriq, and Ford E-Transit are among the vehicles that fell off the list of vehicles eligible for tax credits.

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