this post was submitted on 25 Jan 2024
32 points (97.1% liked)

[Dormant] Electric Vehicles

3193 readers
1 users here now

We have moved to:

!electricvehicles@slrpnk.net

A community for the sharing of links, news, and discussion related to Electric Vehicles.

Rules

  1. No bigotry - including racism, sexism, ableism, casteism, speciesism, homophobia, transphobia, or xenophobia.
  2. Be respectful, especially when disagreeing. Everyone should feel welcome here.
  3. No self-promotion.
  4. No irrelevant content. All posts must be relevant and related to plug-in electric vehicles — BEVs or PHEVs.
  5. No trolling.
  6. Policy, not politics. Submissions and comments about effective policymaking are allowed and encouraged in the community, however conversations and submissions about parties, politicians, and those devolving into general tribalism will be removed.

founded 1 year ago
MODERATORS
Sunshine@lemmy.ca
Ceres@lemmy.world
32
VW says 'most' 2023, 2024 ID.4s will get full $7,500 EV tax credit (electrek.co)
submitted 10 months ago by MicroWave@lemmy.world to c/evs@lemmy.world
9 comments fedilink hide all child comments
 

“Most” 2023 and 2024 VW ID.4s will qualify for the full US EV tax credit in 2024 – here’s the lowdown on eligibility.

VW 2023 and 2024 ID.4s with US-manufactured SK On battery components placed in service in 2024 will be eligible for the full $7,500 federal tax credit. SK On is the battery division of South Korea’s SK Innovation, and its SK Battery America plant is in Commerce, Georgia.

That means that the 2023 ID.4 Standard model, with a 62 kWh battery, an EPA-estimated range of 209 miles, and a starting MSRP of $38,995, would cost $31,495 after the tax credit is applied.

you are viewing a single comment's thread
view the rest of the comments
[–] Earthwormjim91@lemmy.world 5 points 10 months ago (2 children)

That means that the 2023 ID.4 Standard model, with a 62 kWh battery, an EPA-estimated range of 209 miles, and a starting MSRP of $38,995, would cost $31,495 after the tax credit is applied.

Key to mention that the credit is not refundable. It can only take your income tax burden down to $0, and not below. So for the typical family with a couple of kids, making 75k or so, chances are you won’t get the full credit.

[–] sven@l.mchome.net 10 points 10 months ago

This is no longer the case in 2024. The dealer can apply to get the federal $7,500 credit directly and take it off the sale price.

https://www.npr.org/2023/12/28/1219158071/ev-electric-vehicles-tax-credit-car-shopping-tesla-ford-vw-gm

[–] partial_accumen@lemmy.world 3 points 10 months ago

Also for clarity from the top end, there are income limits to the tax credit too:

  • SINGLE Modified AGI over $150,000
  • MARRIED (Filing Jointly) Modified AGI over $300,000
  • HEAD OF HOUSEHOLD Modified AGI over $225,000
  • ALL OTHER FILERS Modified AGI over $150,000

...so this isn't just a tax break for the uber rich people that have a higher tax burden.