A bunch of EVs are going to lose their tax credit starting January 1st
Electric vehicles with batteries that contain minerals and materials sourced from China won’t be eligible for the $7,500 federal EV tax credit starting on January 1, 2024, according to guidelines recently released by the Internal Revenue Service.
That means a lot of EVs are about to lose their eligibility — chief among them, the Ford Mustang Mach-E. Ford sent out a notice to dealers recently stating that it is “unlikely that any Mustang Mach-Es will qualify for the Federal Tax Credit beginning on 1/1/24,” according to a report in Cars Direct. (A Ford spokesperson did not immediately respond to a request for comment.)
Tesla is also warning customers that certain versions of the Model 3 — the Rear-Wheel Drive and Long Range trims — will...