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Washington, DC
CNN
—
Tesla buyers may be able to take advantage of new federal tax credits for electric vehicles next year, the automaker’s executives said Wednesday. The credits can be as large as $7,500 for new vehicles and $4,000 for used vehicles.
Tesla’s eligibility for the previous tax credits ended in Jan. 2020 when it hit the 200,000 limit on vehicles sold per automaker. The 200,000-vehicle cap lifts on January 1 with the new rules, but the new requirements are more stringent than the previous system. Tesla is waiting for the US Treasury to publish detailed guidance by the end of the year.
The legislation is open to some interpretation about how the government will calculate the value of the battery components, but a significant share of components must be manufactured or assembled in North America, to qualify for half of the $7,500 credit. The other half depends on critical…
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