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Reuters reported that Trump's transition team had drawn up plans to end the $7,500 consumer tax credit for EV sales as part of broader tax legislation. Tesla stock dropped by 5%, to $312.20 a share.
“All new Model 3 vehicles currently qualify for a federal tax credit for eligible buyers. $7,500 tax credit will reduce to $3,750 for Model 3 Rear-Wheel Drive and Model 3 Long Range on Jan 1 ...
Tesla disclosed in December its Model 3 Rear-Wheel Drive and Long Range vehicles would lose federal tax credits starting Jan. 1. The Model 3 Performance retains the $7,500 credit.
The $7,500 tax credit for buyers of electric vehicles could be vanishing early in the new Trump administration, but that might actually be good news for Tesla and its CEO Elon Musk, one of ...
The tax credit will only be given to the original purchaser of the vehicle, and not to a secondhand owner. If the vehicle is being lease, the tax credit can be claimed by the leasing company alone. The vehicle must be used mostly in the United States. The vehicle must be placed in service by the taxpayer by 2010 or later.
The bill will eliminate EV tax credits for most models currently getting up to $7,500, Reuters reported. However, those credits will be replaced by new tax incentives as well as a new $4,000 ...
The Toyota Prius Plug-in Hybrid, released in January 2012, was eligible for a $2,500 tax credit due to its smaller battery capacity of 5.2 kWh. [278] All Tesla cars and Chevrolet Bolts were eligible for the $7,500 tax credit. As granted by the 2009 ARRA, electric vehicles produced after 2010 are eligible for an IRS tax credit from $2,500 to ...
Elon Musk, who has expressed support for ending the federal tax credit, said in an X post it was "insane" for the California proposal exclude Tesla. The federal electric-vehicle tax credit, which ...