$7,500 in EV Tax Credit 2023— See Which Electric Vehicles Qualify!

$7,500 worth of EV Tax Credit 2023 will be provided to electric vehicles deemed eligible by the changes in requirements made this April. In this article, read and find out which vehicles will qualify for the tax credits!

The eligibility requirements for the EV Tax Credit 2023 was changed by the U.S. government this April. However, to date, still only six electric vehicles are qualified for the $7,500 worth of tax credits. The list of qualified electric vehicles include some of the best-selling on the market like the Tesla Model 3 sedan and Model Y SUV. Reports say these models are the second and first best-selling electric vehicles in 2022, respectively.

According to Avery, the changes in eligibility requirements of the EV Tax Credit 2023 were released by the Department of Treasury last April 18. Reportedly, international automakers like BMW, Hyundai, and Nissan became ineligible for the full tax credits. This is because the law requires that electric vehicles will only be eligible if they meet the pricing thresholds and specific battery requirements. In addition, the electric vehicles must be made in North America as well.

READ ALSO: Up To $40,000 Electric Vehicle Tax Credit For New Vehicles— See Who Qualifies

List of Vehicles Qualified for $7,500 in EV Tax Credit 2023

According to Grieve, here are the list of the electric vehicles qualified for the $7,500 worth of EV Tax Credit 2023:

• Cadillac LYRIQ, 2023-2024 (Suggested Retail Price: Up to $80,000)
• Chevrolet Blazer, 2024 (Suggested Retail Price: Up to $80,000)
• Chevrolet Bolt/Bolt EUV, 2022-2023 (Suggested Retail Price: Up to $55,000)
• Chevrolet Equinox, 2024 (Suggested Retail Price: Up to $80,000)
• Chevrolet Silverado, 2024 (Suggested Retail Price: Up to $80,000)
• Ford F-150 Lighting (Extended Range Battery) + F-150 Lightning (Standard Range Battery), 2022-2023 (Suggested Retail Price: Up to $80,000)
• Tesla Model 3 Performance, 2022-2023 (Suggested Retail Price: Up to $55,000)
• Tesla Model Y All-Wheel Drive/Model Y Long Range All-Wheel Drive/Model Y Performance, 2022-2023 (Suggested Retail Price: Up to $80,000)
• Volkswagen ID.4, 2023 (Suggested Retail Price: Up to $80,000)

READ ALSO: Race Against Time: Electric Vehicle Buyers Urged To Claim Tax Break Before New Eligibility Rules Take Effect