Tesla, General Motors, and Chevrolet are conspicuously absent from that list. Those manufacturers have already met the sales cap of 200,000 set by the Department of Energy for this year, but a number of vehicles will be eligible for the tax credit in 2023.
Both the current and next model year’s Chevrolet Bolt will have to wait until 2023 to get the credit. The GMC Hummer Pickup and SUV versions will not be eligible this year. Tesla’s entire lineup, the Model 3, Y, S, and X are not eligible either. Lastly, Cadillac’s first all-electric vehicle, the Lyriq won’t qualify until January of 2023.
If you were looking to get a good deal on either a Tesla or Chevy Bolt this year, you may want to wait until next year before pulling the trigger. A $7,500 tax credit isn’t anything to sneeze at. Hopefully, those incentives will encourage more people to buy EVs in the coming years. Although vehicles like the Ford F-150 Lightning are an exciting look at the possible future of EVs, there still aren’t a ton of options for those wanting to buy an affordable EV.
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