Tesla has recently officially announced its list of electric vehicles that still have access to the $7,500 federal incentive following the rule changes in 2024. The announcement of new guidelines for tax credit takes the automakers on the verge of uncertainty.
From the past few months, Tesla has gone through a bunch of new statements regarding it’s electric vehicle eligibility to the federal tax credit of 2024.
The most uncertain clause of the eligibility rules that create confusion is that now it requires 50% of battery minerals to come from North America and 60% of battery components to be assembled in North America.
Tesla has officially updated its present list of vehicles eligible to the federal tax credit and confirmed that Model X variants are all retaining access to the full tax credit:
- Model 3 Performance
- Model X Dual Motor
- Model Y Rear-Wheel Drive
- Model Y Long Range
- Model Y Performance
Tesla also said its all Model 3 variants except Model 3 Performance would lose access and some Model Y variants might see their tax credit reduce.It is also essential to note that the price cap of $80,000 for SUVs and pickup trucks still applies.
Also from the buyer’s side, the income limits still apply to be eligible to the tax credit:
- $225,000 for heads of households
- $150,000 for all other filers
- $300,000 for married couples filing jointly
