Tesla Model 3 Standard Range Will Soon Lose $7,500 EV Tax Credit | Carscoops carscoops
will soon have to cough up an extra $7,500 after it becomes ineligible for the federal EV tax credit.electric vehicles
need to be manufactured in North America, must be fitted with batteries that are built in North America, and have materials sourced from countries with free trade agreements with the U.S. Final guidance on these requirements was not released in time for the tax credit’s introduction at the start of January so the requirements were waived until the second quarter. With April fast approaching, Tesla recently informed its employees that it expects the Model 3 Standard Range to no longer be eligible for any of the federal tax credits, BenzingaThe reason for this is simple.
Interestingly, it is only the Model 3 Standard Range that will be impacted once the Internal Revenue Service finalizes the guidance for EV tax credit eligibility. All other variants of the Model 3, as well as the Model Y SUV, that are sold in the U.S., are built locally and use battery cells manufactured by Tesla and Panasonic in California and Texas.
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