- #2021 FORD ESCAPE PLUG IN HYBRID TAX CREDIT HOW TO#
- #2021 FORD ESCAPE PLUG IN HYBRID TAX CREDIT UPDATE#
Not all of these vehicles are currently on sale. You can find out more here, at CR’s EV incentive finder. Many of these vehicles may also qualify for state and local incentives. Volkswagen ID.4 (2023 model year, MSRP $80,000 or below).Tesla Model Y All-Wheel Drive, Long Range, and Performance (20 model years for All-Wheel Drive and Long Range, 2022 model year only for Performance, MSRP $80,000 or below).Tesla Model X Long Range (2023 model year, MSRP $80,000 or below).Tesla Model 3 Performance only (20 model years, MSRP $55,000 or below).Lincoln Aviator Grand Touring PHEV (MSRP $80,000 or below).Ford F-150 Lightning (20 model years, MSRP $80,000 or below).Chrysler Pacifica PHEV (2022, 2023, and 2024 model years, MSRP $80,000 or below).Chevrolet Silverado EV (2024 model year, MSRP $80,000 or below).Chevrolet Equinox (2024 model year, MSRP $80,000 or below).Chevrolet Blazer (2024 model year, MSRP $80,000 or below).Chevrolet Bolt EUV (20 model years, MSRP $55,000 or below).Chevrolet Bolt (20 model years, MSRP $55,000 or below).Cadillac Lyriq (20 model years, MSRP $80,000 or below).The IRS says the manufacturers of the following EVs and PHEVs indicated that they’re currently eligible for a full tax credit of $7,500 provided other requirements are met, such as vehicle MSRP and buyer income, which are explained in detail later in this article:
#2021 FORD ESCAPE PLUG IN HYBRID TAX CREDIT UPDATE#
We will continue to update this article as more vehicles are added to the list. Ultimately, the tax credit may determine just how much money you’ll save by going electric. Others on the list are either EVs that aren’t on sale yet or plug-in hybrid versions that we haven’t purchased for evaluation but have experienced in most cases.
We’ve tested versions of many of the models click through the model names below for road tests and ratings.
#2021 FORD ESCAPE PLUG IN HYBRID TAX CREDIT HOW TO#
In this article, Consumer Reports has details on how to maximize your savings, including using tools such as our Electric Vehicle Savings Finder to see which cars qualify. None of these regulations apply to leased EVs and PHEVs, so potential buyers interested in an electric car or plug-in hybrid that isn’t eligible for a tax credit may want to consider leasing instead of purchasing.
These requirements will get stricter every year. free-trade agreement partner, or they must have been made from materials recycled in North America. To get the second $3,750, at least 40 percent of critical minerals used in the battery must be extracted or processed in the U.S. To qualify for the first $3,750, at least 50 percent of a vehicle’s battery components must be produced or assembled in North America. Beginning April 18, the full tax credit was divided into two parts.
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