Vehicles That Qualify: The various Tesla electric vehicles eligible for $7,500 include select trims of the Cybertruck, Model 3, Model X, and Model Y. Other brand vehicles that qualify include the Kia EV9 and selected trims of the F-150 Lightning truck.
The only Plug-in Hybrid that qualifies for the credit is the Chrysler Pacifica PHEV.
The list of vehicles that qualify for the tax credit right now is as follows:
Trump’s Take On EV Tax Credits: In November, Reuters reported that Donald Trump‘s transition team plans to kill the $7,500 tax credit available on EV purchases. On Monday, after his inauguration, Trump himself said his administration would consider ending EV tax credits.
However, Tesla CEO Elon Musk, a close Trump ally, has previously supported scrapping of the tax credit.
"In my view, we should end all government subsidies, including those for EVs, oil and gas," Musk said in November.
However, not all are in agreement. Tesla researcher Troy Teslike has previously said that the loss of tax credit will only make Tesla lose its market to gas cars from luxury car brands.
Trump, on Monday also revoked a 2021 executive order signed by former President Joe Biden that sought to ensure that 50% of new vehicles sold in the U.S. by 2030 are electric.
Check out more of Benzinga’s Future Of Mobility coverage by following this link.
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