Tesla Cybertruck, Hyundai & Kia EVs Now Qualify for US EV Tax Credit score — However For How Lengthy?
Join each day information updates from CleanTechnica on e-mail. Or comply with us on Google Information!
Information has damaged within the final couple of days that the Tesla Cybertruck is now eligible for the $7,500 US EV tax credit score.
A really large BREAKING NEWS to now share! The Cybertruck now qualifies for the $7500 IRA credit score as of at present, January 1st 2025!https://t.co/qW09N2Qxwy pic.twitter.com/LQFpnuFFn2
— Greggertruck (@greggertruck) January 1, 2025
Moreover, electrical autos from Hyundai, Kia, and Genesis now qualify for the total tax credit score. That might be the Hyundai IONIQ 5, Hyundai IONIQ 9, Kia EV6, Kia EV6, and Genesis GV70 EV. That is along with EVs from Acura, Cadillac, Chevrolet, Ford, Honda, and Tesla. The Nissan LEAF, Rivian R1S, Rivian R1T, and Volkswagen ID.4, although, have been faraway from the record of autos eligible for the tax credit score.
Importantly, shoppers can profit from the tax credit score for these autos in addition to different EVs by leasing them. There’s a loophole there that has allowed the federal subsidy to be utilized to any EV being leased.
Sadly, incoming president Donald Trump and co-president Elon Musk have stated repeatedly that they’d fortunately take away the EV tax credit score altogether. It’s broadly assumed this will probably be one of many first actions Trump takes when he takes workplace later this month. So, you could simply have just a few weeks to reap the benefits of these tax credit. Store correctly.
It ought to be famous that authorities subsidies for electrical autos is well-liked throughout a big portion of the American public, as they’ve been for a number of years. “Public investments are additionally seen as crucial by a majority of respondents with 67% saying that the federal government ought to present buy incentives for EVs, and 50% stated they might not buy an EV with out the federal $7,500 tax credit score,” Veloz writes.
“Identical to fuel and telecommunications corporations proceed to get pleasure from federal subsidies, new expertise is boosted by authorities funding. It’s clear that Individuals assume that EV incentives ought to be supplied by authorities to assist entry to wash transportation. The trade will miss out on a minimum of 50% of potential EV purchases if we do away with the federal EV tax credit score,” Josh D. Boone, Veloz Government Director, stated.
Regardless of widespread assist for EV subsidies, it does appear doubtless Trump and staff will kill them. Don’t ask me how Elon Musk thinks that is high quality and funky. I do know what his arguments are, however they don’t seem to be excellent or adequately logical.
Screenshot at prime courtesy of Veloz.

Chip in just a few {dollars} a month to assist assist unbiased cleantech protection that helps to speed up the cleantech revolution!
Have a tip for CleanTechnica? Wish to promote? Wish to recommend a visitor for our CleanTech Speak podcast? Contact us right here.
Join our each day e-newsletter for 15 new cleantech tales a day. Or join our weekly one if each day is simply too frequent.
CleanTechnica makes use of affiliate hyperlinks. See our coverage right here.
CleanTechnica’s Remark Coverage