Tesla bumps up Mannequin Y value after EV tax credit score adjustment

An image showing the Tesla logo on a black vehicle
The Mannequin Y simply bought dearer. | Picture: Getty Pictures

Tesla raised the worth of its Mannequin Y electrical automobile (EV) simply hours after the US Treasury Division adjusted its EV tax credit score guidelines, as first reported by Bloomberg. Whereas the Tesla Mannequin Y Lengthy Vary now prices $1,500 extra at $54,990, the Mannequin Y Efficiency went up by $1,000 to $57,990, excluding transport charges.

On Friday, the Treasury Division up to date the best way it classifies automobiles that qualify for its $7,500 EV tax credit score as a part of the Inflation Discount Act (IRA). The change ought to enable extra automobiles — together with the Mannequin Y — to qualify for the credit score, because it not places sure SUV crossovers in the identical class as sedans.

Beforehand, some fashions of the Mannequin Y, alongside the Cadillac Lyriq, weren’t eligible for the EV…

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