These 14 electric vehicles are the last to receive tax credits

As the demand for electric vehicles (EVs) continues to rise, many governments are incentivizing the purchase of these eco-friendly cars by offering tax credits to EV buyers. In the United States, the federal tax credit for purchasing an electric vehicle has been a significant incentive for buyers since its introduction in 2008. However, as the number of EVs on the market increases, the tax credit has been phased out for many popular models.

Currently, only 14 EV models still qualify for the full $7,500 tax credit. This means that time is running out for those interested in buying one of these models to take advantage of this incentive before it is gone forever. In this article, we will take a closer look at the 14 EVs that still qualify for the tax credit, and what this means for the future of the EV industry.

The 14 EV models that still qualify for the full tax credit include the Audi e-tron, BMW i3, Chevrolet Bolt EV, Fiat 500e, Ford Mustang Mach-E, Honda Clarity Electric, Hyundai Kona Electric, Kia Niro Electric, Nissan Leaf Plus, Porsche Taycan, Smart EQ Fortwo, Tesla Model S, Tesla Model X, and the Volkswagen ID.4. While there are many other EV models available, these are the only ones that still qualify for the full tax credit.

For buyers interested in these 14 models, the clock is ticking. The tax credit begins to phase out after the manufacturer sells 200,000 qualifying EVs in the US. Once that number is reached, the tax credit is reduced by 50% for six months before being phased out entirely. Many of the popular EV models such as the Tesla Model 3, Chevrolet Volt, and Nissan Leaf have already hit the 200,000 unit threshold and no longer qualify for the full tax credit.

The tax credit was initially introduced to incentivize the purchase of EVs as a way to reduce carbon emissions and combat climate change. However, as the EV market grows, some argue that the tax credit is no longer necessary. In fact, some policymakers have proposed ending the tax credit altogether, while others have suggested extending it to include used EVs and expanding it to include other types of zero-emission vehicles, such as hydrogen fuel cell vehicles.

Despite the debate surrounding the tax credit, it remains an important incentive for many potential EV buyers. The cost of EVs is still higher than their gasoline-powered counterparts, and the tax credit can help bridge that gap. In addition, the tax credit is often a deciding factor for those on the fence about purchasing an EV.

As the EV market continues to grow, it is likely that we will see further incentives introduced to encourage buyers to make the switch to electric. In the meantime, for those interested in purchasing an EV, now is the time to act if you want to take advantage of the full tax credit. The 14 models that still qualify offer a wide range of options for buyers, from the sporty Tesla Model S to the more affordable Chevrolet Bolt EV.

In conclusion, the federal tax credit for EVs has been an important incentive for buyers for over a decade. While it is being phased out for many popular EV models, there are still 14 models that qualify for the full tax credit. As the EV industry continues to grow, it is likely that we will see further incentives introduced to encourage buyers to make the switch to electric.