this post was submitted on 25 Jan 2024
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Electric Vehicles

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VW says 'most' 2023, 2024 ID.4s will get full $7,500 EV tax credit (electrek.co)
submitted 8 months ago by MicroWave@lemmy.world to c/evs@lemmy.world
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“Most” 2023 and 2024 VW ID.4s will qualify for the full US EV tax credit in 2024 – here’s the lowdown on eligibility.

VW 2023 and 2024 ID.4s with US-manufactured SK On battery components placed in service in 2024 will be eligible for the full $7,500 federal tax credit. SK On is the battery division of South Korea’s SK Innovation, and its SK Battery America plant is in Commerce, Georgia.

That means that the 2023 ID.4 Standard model, with a 62 kWh battery, an EPA-estimated range of 209 miles, and a starting MSRP of $38,995, would cost $31,495 after the tax credit is applied.

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[–] partial_accumen@lemmy.world 2 points 8 months ago

Also for clarity from the top end, there are income limits to the tax credit too:

  • SINGLE Modified AGI over $150,000
  • MARRIED (Filing Jointly) Modified AGI over $300,000
  • HEAD OF HOUSEHOLD Modified AGI over $225,000
  • ALL OTHER FILERS Modified AGI over $150,000

...so this isn't just a tax break for the uber rich people that have a higher tax burden.