Electric Trucks Like Tesla's Semi Could Receive Up To $40,000 Incentive Under Pending Bill

Zinger Key Points
  • The Inflation Reduction Act of 2022 will include an up to $40,000 credit for the production of electric semi trucks.
  • The legislation offers up to $40,000 in incentives for commercial clean vehicles over 14,000 lbs.

While federal lawmakers work to pass a bill to incentivize the electrification of transportation via tax credits, there is a large potential credit coming for companies working to make electric semi trucks, such as Tesla Inc's TSLA all-electric semi truck

As shared by Electrek, the Inflation Reduction Act of 2022 will include an up to $40,000 credit to help in the production and deployment of electric semi trucks. The section for commercial clean vehicles could apply to electric trucks.

The legislation offers up to $40,000 in incentives for commercial clean vehicles over 14,000 lbs. This could include Tesla's all electric semi, as well as Nikola Corp's NKLA hydrogen fuel cell powered semi truck.

Also Read: Elon Musk May Sell More Tesla Stock, His Top Spot On Billionaires List Could Be Short-Lived: Survey  

The base price of the 500-mile range Tesla semi is currently listed on Tesla's website at $180,000. This incentive would bring the price down to $140,000, and truckers would also look forward to massive fuel savings over the life of the vehicle. For comparison, truckertotrucker.com has diesel powered vehicles listed at prices ranging from $80,000 up to $169,940. The first Tesla Semis are expected later this year, with the first customer being Frito-Lay

Photo courtesy of Tesla

Posted In: Tech