A bunch of EVs are going to lose their tax credit starting January 1st

Photo by Sean O’Kane / The Verge

Electric vehicles with batteries that contain minerals and materials sourced from China won’t be eligible for the $7,500 federal EV tax credit starting on January 1, 2024, according to guidelines recently released by the Internal Revenue Service.

That means a lot of EVs are about to lose their eligibility — chief among them, the Ford Mustang Mach-E. Ford sent out a notice to dealers recently stating that it is “unlikely that any Mustang Mach-Es will qualify for the Federal Tax Credit beginning on 1/1/24,” according to a report in Cars Direct. (A Ford spokesperson did not immediately respond to a request for comment.)

Tesla is also warning customers that certain versions of the Model 3 — the Rear-Wheel Drive and Long Range trims — will...

Continue reading…



from The Verge - All Posts https://ift.tt/UFESMcK

Comments

Popular posts from this blog

Gemini app finally expands to audio files

Is AI the end of software engineering or the next step in its evolution?

Amazon is offering a like-new Kindle Paperwhite 2024 for just $107