President Joe Biden signed the Inflation Reduction Act of 2022, which listed all vehicles eligible for tax credits in 2022 and early 2023.
EVs and hybrids are now only eligible for the tax credit if they are made in North America.
A couple's income cannot exceed $300,000. Individuals cannot earn more than $150,000.
Rebates are available for batteries made from at least 40 percent U.S. materials.
The credit eligibility of around 70 percent of the 72 vehicles will be revoked, according to Reuters.
The U.S. Department of Energy published a list of American manufacturers of hybrids and electric vehicles.
Some of these vehicles exceed $80,000, so they aren't eligible for the $7,500 federal tax credit.
Hybrid or electric versions are also available for the Audi Q5, BMW 3-Series, BMW X5, Chrysler Pacifica, Ford Escape, Ford F-150, etc...
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