We’ve compiled a comprehensive list of all the new EVs currently eligible for either the partial $3750 or the full $7500 federal tax credit. The future seems to be electric, for better or worse, as the U.S. government places increasing emphasis on this transition.
This is evident in the EPA’s release of a detailed roster of EVs qualified for tax incentives. Our diligent effort has brought together each EV currently qualified for either the $3750 or $7500 credit, focusing exclusively on new electric vehicles slated for release in 2024.
Notwithstanding the surge of new EVs flooding the market, the list remains relatively concise due to stricter government requirements surrounding eligibility. Recent regulations, particularly those implemented on January 1, 2024, concerning battery sourcing, have contributed to the abbreviated list below.
Electric Vehicles Currently Qualified For $3750 Credit
Nissan Leaf
Priced at $29,280, the Nissan Leaf stands as the most affordable entry point into the world of EVs. The partial tax credit further reduces the cost burden for buyers. However, equipped with its largest battery configuration, the Leaf barely achieves a range of 200 miles, highlighting its limitations.
Additionally, compatibility issues with Nissan’s CHAdeMO charging connector pose challenges at public charging stations. Nonetheless, its compact size offers maneuverability in city traffic and convenient parking solutions.
Rivian R1S
Rivian’s inaugural SUV offering, the R1S, narrowly skirts the maximum MSRP threshold to qualify for the full $7500 tax credit. Priced at $76,700, it comes generously equipped as standard.
Impressively, the quad-motor First Edition variant achieves a swift 3.1-second sprint to 60 mph, showcasing its performance capabilities. With a standard battery offering 260 miles of range, the R1S delivers both power and practicality in one package.
Rivian R1T
Offering a comparable experience to its SUV counterpart, the Rivian R1T pickup comes with a starting price of $74,800. For enthusiasts seeking enhanced performance, a $5000 dual-motor option provides additional horsepower.
Inside, the cabin boasts luxurious features and advanced technology, including a sizable 16.0-inch infotainment system and a dedicated digital gauge display. With its blend of sophistication and capability, the R1T appeals to drivers seeking premium utility and comfort.
Electric Vehicles Currently Qualified For $7500 Credit
Cadillac Lyriq
The sleek and elongated Cadillac Lyriq rides on GM’s Ultium platform, sharing space with heavyweights like the GMC Hummer EV. Unlike its rugged counterpart, the Lyriq effortlessly maneuvers through urban traffic.
Equipped with a 102.0-kWh battery, it boasts an estimated range of up to 308 miles in the single-motor version and up to 307 miles in the dual-motor setup. Pricing starts at $58,590 before factoring in the $7500 tax credit.
Ford F-150 Lightning
With its distinctive badging and imposing light bar across the front, the F-150 Lightning is hard to miss. From the inside, it’s almost indistinguishable from its gas-powered counterpart.
Despite its conventional appearance, this EV pickup delivers a range of 230 to 310 miles. However, towing may significantly impact mileage. Starting at $57,090 before incentives, it qualifies for the $7500 tax credit.
Honda Prologue
The Honda Prologue stands as Honda’s sole EV offering in the U.S., positioned as an SUV for broader appeal. It comes with options for front- or all-wheel-drive, the latter delivering 288 horsepower.
While it may not offer the exhilarating acceleration of some EVs, the Prologue boasts EPA-range estimates between 273 and 296 miles. Prices start at $48,795 for the front-drive model and $56,095 for the AWD version, with both eligible for a $7500 federal tax credit.
Tesla Model 3 Performance
The standard-range rear-wheel-drive Tesla Model 3 misses eligibility for the full $7500 tax credit due to its battery configuration.
However, the pricier Model 3 Performance, after a last-minute price reduction, slides under the $55,000 threshold required for cars. Accelerating to 60 mph in just 3.5 seconds, it offers an impressive 315 miles of range, making it a compelling option within its price range.
Tesla Model Y
While certain Tesla Model 3 variants fall short, every Model Y qualifies for the full $7500 credit. Despite sharing the Model 3’s interior material issues, the Model Y lineup caters to various preferences.
The entry-level rear-wheel-drive model starts at $44,630 with a range of 260 miles, while the AWD version begins at $49,630 with a 330-mile estimate. The Performance variant, priced at $54,130, boasts an estimated 303 miles of range per charge.
Tesla Model X
Although the Model X may be showing its age, its iconic gullwing-style rear doors remain a standout feature. Priced at $81,380, including the $1390 destination fee, it falls under the $80,000 cap, qualifying for the full $7500 discount.
With an EPA-estimated range of 335 miles, it offers ample driving capability. The high-performance Plaid version, with a combined 1020 horsepower from three electric motors, exceeds the cap, rendering it ineligible for federal tax credit.
Volkswagen ID.4
Combining sharp aesthetics, a practical interior, and competitive pricing, the Volkswagen ID.4 emerges as a compelling electric crossover. Manufactured in Chattanooga, Tennessee, it earns buyers the full tax credit.
Starting at $40,290 for the standard version and peaking at $52,740 for the Pro S Plus, it comfortably falls below the $80,000 tax incentive ceiling. Though lacking enthusiast-oriented excitement, its well-appointed interior and spaciousness cater to family needs.
