More EVs lose US tax credits including Tesla Cybertruck, Nissan Leaf

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More EVs lose US tax credits including Tesla Cybertruck, Nissan Leaf

The U.S. Treasury said that new rules about where batteries can be bought meant that many electric cars, like the Nissan Leaf, Tesla Cybertruck All-Wheel Drive, and Chevrolet Blazer EV, could no longer get tax credits of up to $7,500.

In December, the Treasury released new rules on where to get batteries for electric vehicles in the U.S. The goal is to move the supply chain away from China. They began to work on Monday.

From 43 to 19, the number of EV cars that could get U.S. EV tax credits went down. Those numbers include different kinds of the same kind of car. Treasury said that some automakers have not yet sent in information on cars that are eligible, which means that the list could change.

People who buy a car at a participating dealership can now get a tax refund of up to $7,500. This is because of the new rules. The tax credit has limits on how much the user can earn and how much the car costs.

Some cars that used to be qualified for tax credits are no longer on the list. These include the Volkswagen ID.4, Tesla Model 3 Rear Wheel Drive, BMW X5 xDrive50e (BMWG.DE), Audi Q5 PHEV 55, Cadillac Lyriq, and Ford E-Transit.

Volkswagen (VOWG_p.DE) said on Monday that it “is in the process of confirming eligibility for a federal EV tax credit for vehicles” after January 1.

“We are optimistic that MY2023 ID.4s and all MY2024 ID.4s will be eligible under the new rules,” VW said.

BMW, Nissan, and Tesla did not respond right away.

The Treasury stated “automakers are adjusting their supply chains to ensure buyers continue to be eligible for the new clean vehicle credit, partnering with allies and bringing jobs and investment back to the United States.”

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