Tag: EV Credit
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Tesla qualifies for Advanced Manufacturing direct pay credit for battery manufactured in U.S.
Many consumers are aware of the $7,500 consumer tax credit. What is less known, is the Inflation Reduction Act has incentives for manufacturers also via a direct pay credit paid to U.S. battery manufacturers. Tesla have joint battery plant with Panasonic operating in Nevada and qualifies for battery from that plant. How much credit does…
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Tesla Model 3 qualifies for $7,500 tax credit
At the top of the Tesla.com is a banner that shows Tesla Model 3 qualifies for the full Inflation Reduction Act (IRA)’s $7,500 tax credit for consumers. With that adjustment, Tesla’s entire mass volume vehicle line up of Model 3 and Model Y qualify for the max tax credit. Let’s run the math and see…
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Tesla increases Model Y price $1000 after IRS updates rules on EV tax credit to increase Model Y MSRP limit to $80,000.
IRS has updated its EV tax guidance to classify the Model Y as a SUV and make it quality for EV credit up to $80,000 MSRP. Mustang Mach-E also qualifies as a SUV. With this change, Tesla may have seen a surge in Model Y orders. The order rate may be exceeding production rate. In…
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Tesla increases discount to $7,500 for Model 3 and Model Y
The Tesla.com order page now offers $7,500 discount and 10,000 miles free Supercharging. It reads: “Take delivery of a new Model 3 or Model Y between December 21 and 31, 2022 for a $7,500 credit and 10,000 miles of free Supercharging.” The discount is probably offered to match the potential EV credit that will become…
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Link between Inflation Reduction Act EV credit and Tesla offering discount for Model 3 and Model Y for December 2022 delivery in US.
In the US, with the Inflation Reduction Act, Tesla cars will once again qualify for incentives for some consumers that meet income limits. Previously there was limit of 200,000 vehicles per manufacturer which Tesla exceeded. The law goes in effect January 1st 2023, Tesla buyer can claim a credit between $3,750 to $7,500. New Inflation…