Here’s every electric vehicle that currently qualifies for the US federal tax credit in 2024

Are you considering purchasing an electric vehicle and wondering about federal tax credits in 2024?

Let's break down the key details you need to know.

The federal tax credit for electric vehicles can be up to $7,500, but the actual amount depends on your income tax and the specifications of the vehicle you purchase.

The Inflation Reduction Act of 2022 extended the terms for the tax credit for vehicles purchased between 2023 to 2032, with some changes in requirements.

To qualify for the full tax credit, the electric vehicle must meet specific criteria, including battery size, gross vehicle weight rating, and assembly location.

The IRS has shared the latest rules and a list of qualifying electric vehicles, including models from Acura, Cadillac, Chevrolet, Ford, Honda, Nissan, Rivian, and Tesla.

Understanding the federal tax credits for electric vehicles can help you make an informed decision when considering purchasing an electric vehicle in 2024.