Buying a car doesn’t always have to be expensive, especially if you’re looking for an electric car. Efficiency is becoming increasingly prevalent worldwide. Why do we tell you this?
Because you can now purchase an electric vehicle and receive a $7,500 tax credit, making the transition much easier for everyone. As you read, by 2025, you will be able to change your car for $7,500 less!
The United States wants to lead the market change and is offering its residents five electric vehicles with which they intend to revolutionize the market, and Hyundai, Kia, and Genesis have been able to get some of their models to include a little gift under the seat, a tax credit for those who dare to change the world.
Stay tuned as we reveal which models qualify and how to claim the credit.
Why are they making these changes?
The U.S. Department of Energy has updated the list of vehicles that qualify for the Vehicle Tax Credit, and the five models we’ll discuss below are now among the 25 available options, representing ten different brands.
For the first time since the Inflation Reduction Act (IRA) was implemented in 2022, Hyundai Motor Group has established itself as a major player in the US electric vehicle market!
Hyundai IONIQ 5 and IONIQ 9
The first novelty of this tax credit is these electric SUVs, which are specifically designed for large families (with three rows of seats) and manufactured at the Metaplant America plant in Georgia.
Hyundai initially had to modify its production line so that they could be produced in Georgia, as the credit does not apply if they are produced outside of North America (Mexico, the United States, or Canada).
So, these two vehicles (EV SUV IONIQ 5 and IONIQ 9). If either of you has eyes, you are already aware that the tax credit will allow you to purchase them for a slightly lower price.
KIA
From KIA, the two vehicles that make the list of eligible vehicles are the EV9 and the 2025 EV6, which are produced at KIA’s West Point, Georgia plant.
Genesis
The luxury segment also has its rider in this credit, and that is, the Genesis GV70 EV (assembled in Montgomery, Alabama) is now also added to the list of eligible vehicles
Will this credit continue with the change of government?
The incentive for EVs and hybrids may not survive the upcoming political change in our country. Donald Trump has promised to eliminate subsidies, citing market distortions.
However, car manufacturers are fighting to keep the incentive in place, allowing drivers to switch to environmentally friendly vehicles.
We’ll have to wait to see what Congress decides on this tax credit, which not only helps people buy vehicles but also creates jobs, strengthening the country’s economic base.
If you’re looking to purchase an electric vehicle, consider one of the options mentioned. Don’t waste time; go for it!
