All Tesla Model 3s now eligible for full $7,500 tax credit

By Keith Laing | Bloomberg

All of Tesla’s Model 3 sedans are now eligible for the full US tax credit under new criteria for battery-sourcing set by the US Treasury Department, part of a Biden administration plan to spur adoption of electric vehicles.

The US government confirmed the tax credit of as much as $7,500 for all variations of the Model 3 in an update on its website Tuesday.

The change brings the total number of electric vehicle models eligible for the full tax credits to 22, including those from General Motors Co., Ford Motor Co. and Volkswagen AG.

Only the performance version of the Model 3 was previously eligible for $7,500 in tax credits. Before Tuesday, the Treasury Department had said the long-range Model 3, which Tesla recently resumed selling, would qualify for only $3,750 in federal tax credits.

Tesla’s Model S and Model X vehicles do not qualify for any tax credit.

Stay connected with us on social media platform for instant update click here to join our T witter, & Facebook

We are now on Telegram. Click here to join our channel (@TechiUpdate) and stay updated with the latest Technology headlines.

For all the latest Business News Click Here

Read original article here

Denial of responsibility! Rapidtelecast.com is an automatic aggregator around the global media. All the content are available free on Internet. We have just arranged it in one platform for educational purpose only. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials on our website, please contact us by email – [email protected]. The content will be deleted within 24 hours.