Nissan Leaf Regains Status As Cheapest New EV, Eligible For Federal Tax Credit

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Nissan Leaf Regains Status As Cheapest New EV, Eligible For Federal Tax Credit
Nissan Leaf Regains Status As Cheapest New EV, Eligible For Federal Tax Credit

Nissan’s compact electric hatchback is again eligible for the partial $3750 incentive, improving its title as the cheapest new EV. The 2024 Nissan Leaf starts at $29,280, but that price drops below $26K with the available federal EV tax credit.

Today, Nissan announced that the Leaf has regained eligibility for the partial $3750 incentive, as its battery components meet the government’s requirements. The Leaf was already the cheapest new EV sold in the U.S., undercutting the $32K Mini Cooper SE, and this news improved its bargain-priced status.

There’s currently only one electric vehicle sold in the U.S. that costs under $30,000 new. That title goes to the 2024 Nissan Leaf, which has a $29,280 starting price.

Now, the compact electric hatchback can be bought for less than $26K, as Nissan today announced that the Leaf is once again eligible for the partial $3750 federal EV tax credit.

Nissan Leaf
Nissan Leaf (Credits: Nissan)

Eligible Leafs

There is a catch: Nissan says that to be eligible, the Leaf model must have been built in 2024 and bought on or after today, March 6. Of course, to get the discount, the purchaser must also meet all the requirements set by the Inflation Reduction Act (for more about how the EV tax credits work, we’ve written an explainer).

Previously, the Nissan Leaf was eligible for half of the full $7500 federal incentive, but that ended after December 31. That meant the company had to recertify that its battery components meet the IRA requirements, which have been completed.

The Leaf becomes one of only 10 electric 2024 models in the U.S. that are currently eligible for a federal credit—only seven can get the full $7500, too.

Nissan Leaf
Nissan Leaf (Credits: Nissan)

Price vs. Other Cheap EVs

A calculator will tell you that a new 2024 Nissan Leaf can cost as little as $25,530 after the federal incentive is applied. That’s considerably less expensive than a 2024 Mini Cooper SE that starts at $31,895 and isn’t eligible for the federal tax credits.

With the Chevy Bolt EV and EUV discontinued after last year (unsold 2023 models still qualify for the $7500 credit), there’s little competition for the Leaf, with the next cheapest new EV after the Mini being the 2024 Hyundai Kona Electric, which starts at $34,050 but isn’t eligible for federal incentives.

The new Fiat 500e is next, priced at $34,095 when it goes on sale within the next few months. There’s no word on its tax-credit eligibility, but it’s built in Italy. For those wondering about the Tesla Model 3, which starts at $41K, only the considerably pricer Performance model ($55K est.) is currently eligible for the $7500 credit.


By Annie Linardos

I'm a journalist student and completed my masters in Journalism and Mass Communication. With a strong track record as an intern at Mathrubhumi News and The New Indian Express as a reporter and content writer, I'm creative, motivated, and have a keen eye for the truth and attempting to use the expertise and talents to contribute to the emerging field of journalism. I have also been working as a freelance writer and have the capability of producing interesting and bold articles.

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