Changes to Federal Tax Credits for Electric Vehicles: What You Need to Know.
Only 10 electric or plug-in hybrid vehicles will be eligible for a $7,500 U.S. tax credit, while another seven could get $3,750 under new federal rules that go into effect on Tuesday. Most of the more than 60 electric or plug-in hybrids on sale in the U.S. won’t get any tax credits. To be eligible, electric vehicles or plug-ins have to be manufactured in North America. The new rules govern how much battery minerals and parts can come from countries that don’t have free trade agreements with the U.S.