Tesla Mannequin three might lose $7,500 tax credit score in 2024 underneath new battery guidelines

Tesla Model 3 may lose $7,500 tax credit in 2024 under new battery rules

Enlarge (credit score: Jonathan Gitlin)

Tesla has engaged in a collection of value cuts over the previous yr or so, nevertheless it would possibly quickly wish to take into consideration making some extra for the Mannequin three sedan. In keeping with the automaker’s web site, the Tesla Mannequin three Lengthy Vary and Tesla Mannequin three Rear Wheel Drive will each lose eligibility for the $7,500 IRS clear car tax credit score initially of 2024. (The Mannequin three Efficiency might retain its eligibility.)

From Tesla's website.

From Tesla’s web site. (credit score: Tesla)

The start of 2023 noticed the beginning of a brand new IRS clear car tax credit score meant to incentivize individuals by offsetting a few of the greater buy price of an electrical car. The utmost credit score remains to be $7,500—identical to this system it changed—however with a variety of latest situations together with earnings and MSRP caps, plus necessities for rising the quantity of every battery that have to be refined and produced in North America.

A brand new hiccup appeared initially of December 2023, although—within the type of new steerage from the US Treasury Division concerning “overseas entities of concern.”

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