The 2024 Nissan Leaf Regains Eligibility for $3,750 Tax Credit

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The 2024 Nissan Leaf Regains Eligibility for $3,750 Tax Credit

The Nissan Leaf, renowned for its affordability and, in the eyes of many, appealing design, has received recertification from the US government, rendering it eligible for a federal tax credit of $3,750 for the year 2024.

Previously, until December 31, 2023, the Leaf qualified for half of the full $7,500 federal incentive, which expired at the close of 2023. This necessitated the company to undergo recertification of its battery components to ensure compliance with the latest Internal Revenue Service (IRS) requirements.

As a result, the Leaf now joins a select group of 11 new EV models in the US eligible for the federal tax credit, with only seven qualifying for the full $7,500 credit.

To avail of the credit, customers must fulfill all purchase and income qualifications outlined in IRS code Section 30D. This entails the vehicle being assembled in North America and meeting specific criteria related to critical minerals and battery components.

Eligibility for the tax credit hinges on factors such as the sourcing of parts and minerals from North America, with requirements becoming increasingly stringent annually, leading to fluctuations in eligibility for certain vehicles. Notably, the Cadillac Lyriq recently regained eligibility after briefly losing it due to stricter regulations.

The 2024 Nissan Leaf Regains Eligibility for $3,750 Tax Credit

According to Nissan, the current Leaf models, along with their batteries, are assembled in Smyrna, Tenn. Furthermore, to qualify for the tax break, the Leaf model must be manufactured in 2024 and purchased on or after today’s date, March 6.

To further entice prospective buyers, Nissan is also offering a $3,750 incentive on current lease arrangements for the 2023 or 2024 Leaf.

The base 2024 Leaf S has a starting MSRP of $29,235 after factoring in the $1,095 destination charge. It features a 147-horsepower motor and a 40-kWh battery pack, offering a range of 149 miles.

Meanwhile, the 2024 Leaf SV, starting at $37,285, sees a $390 increase in pricing compared to its 2023 counterpart at launch. The SV boasts a more potent 214-horsepower motor and a larger 60-kWh battery pack, providing a range of 212 miles.

Also read: Nissan Rogue Seatbelt Recall: Safety Issue Affects Thousands

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