Only 10 EVs Quality for 2024 Tax Credit
EVs that have at least 50% of materials sourced from North America, or any of the countries that the U.S. has free trade agreements with will be eligible for a $3,750 rebate – but in order to get the full $7,500, said vehicle’s batteries must have at least half of its components sourced from countries signed onto the USMCA agreement; the U.S., Mexico or Canada. Additionally, the raw minerals that go into making said components like lithium, nickel, cobalt, manganese, and graphite must be sourced from a country that the U.S. has a free trade agreement with.

The 10 are listed in the article.

  1. Chevrolet Bolt EV - $26,500

The lowest priced EV in America may be bowing out for the 2024 model year, but a $7,500 tax credit added to one of the remaining units sitting on a dealer lot will result in an EV that can start at a hair or two under $20,000. If you like compact cars, this might be a great, inexpensive option.

  1. Chevrolet Equinox EV - $48,995

According to the Detroit Free Press, the version launching in 2024 will not be the cheapest version with an anticipated $34,995 price tag. However, the version at $48,995 that will be available will come with a plethora of features including GM’s (GM) Super Cruise and one-pedal driving, which will come in handy for commuters.

  1. Ford F-150 Lightning - $49,995

This electric pickup from Ford (F) gets up to 320 miles with an available “extended-range” battery, but even with a few ticks on the options list, a good well-equipped model with tons of features, bells and whistles will just make it before the limit of the $80,000 MSRP cap for federal credits.

  1. Tesla Model 3 Performance - $50,990

Tesla fanboys who miss the Dec. 31 deadline will have to ante up and upgrade to the top-of-the-line model if they want a Model 3 with full incentives. Though the credits will change, a long-range model with a reduced $3,750 credit versus a performance one with full credits will be set just $1,250 apart; a curious comparison for different minded drivers.

  1. Chevrolet Silverado - $51,895

Unlike its Blue Oval rival, the consumer-focused Silverado EV RST First Edition coming out in 2024 will top six figures. Chevrolet says that more cheaper variants are on the way, but those looking for a work truck might consider the WT variant, which stated at a smidge near $52,000.

  1. Tesla Model Y Performance - $52,490

Tesla heads looking for more room than the Model 3 can opt for the Model Y equivalent, which benefits from its classification as an SUV. With an $80,000 MSRP cap, buyers can still option their Musk machines with all the extras, including multi-coat paint color and the $12,000 “Full Self-Driving Capability” options.

  1. Chrysler Pacifica PHEV - $53,425

The Chrysler Pacifica PHEV (STLA) may be a plug-in hybrid that still uses gas, but it carries a 16kWh battery that makes it eligible under the federal government’s fine print. As its powertrain and materials are sourced and made in North America, it is a seven-seat family hauler that is eligible for a full $7,500 tax credit.

  1. Chevrolet Blazer EV - $60,215

This new SUV from Chevrolet has a similar price to the Cadillac, but are directed at two different customers. While the Cadillac is based entirely on luxury and tech, the Blazer is all performance, as it boasts an aggressive look that sets it apart from the pack.

  1. Cadillac LYRIQ - $58,590

Those looking for luxury might be attracted to the spacious Cadillac Lyriq, which packs lots of features for under the $80,000 threshold for SUVs. For $62,690, the five-seater Caddy packs driver assists like GM’s Super Cruise, as well as cool passenger amenities like a panoramic power sunroof.

  1. Tesla Model X - $79,990

You know, for posterity…


Apparently the hack is to lease the car then buy out the lease straight away.