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Electric Vehicles Eligible for Federal Tax Credit

2022 -05/26 The IRS has added more electric vehicles to its list of those eligible for a federal tax credit. The tax code provides a credit (of up to $7,500) to purchasers of qualified plug-in electric-drive passenger vehicles and light trucks. The credit phases out over four calendar quarters, beginning when a manufacturer has sold at least 200,000 qualifying vehicles in the United States. Here are the new eligible vehicles (all are 2023 models): Hyundai Genesis GV60, Jaguar I-Pace (HSE), Land Rover Range Rover SE PHEV, Land Rover Range Rover Sport Autobiography PHEV, MINI Cooper SE Hardtop and Subaru Solterra. For a full list of qualifying vehicles and the credit amounts: https://bit.ly/3sZvgDx

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