The following vehicles qualify for the EV tax credit in the US, as of October 2023:
- All-electric vehicles with an MSRP below $55,000, including zero-emission vans, SUVs, and trucks with MSRPs up to $80,000.
- Plug-in hybrid EVs (PHEVs) that meet the same requirements as all-electric vehicles.
- Used EVs priced below $25,000, which can qualify for up to $4,000 in federal tax credits.
To qualify for the EV tax credit, the vehicle must also meet other requirements, such as having a battery size of at least 7 kWh and a gross vehicle weight rating less than 14,000 pounds. Additionally, beginning in 2025, any vehicle with battery minerals or components from a foreign entity of concern are excluded from the tax credit. The credit is also subject to other requirements like lower annual income.
