Tesla just confirmed that its popular Model 3, including all its variants, is now qualified for the IRA’s electric vehicle tax credit of $7,500, as displayed on the automaker’s official website.
“$7,500 tax credit available for Model 3. Learn More.”
Tesla
Changes
The Tesla Model 3 Rear-Wheel Drive and Long Range variants were only eligible for a $3,750 EV tax credit as the company sourced their batteries from China. The Performance range was the only variant that qualified for the full tax credit of $7,500.
However, that case was in March, when the US Treasury released the new guidance on battery sourcing.
Now, Tesla’s website states that all new Model 3 units in the US qualify for the full tax credit.
In addition, Tesla and its own CEO Elon Musk also retweeted a Tesla investor Sawyer Merritt’s post on Twitter about the changes in Model 3’s tax credit eligibility.
“Hopefully lots of ppl become aware of how affordable the Model 3 is. With the amount of standard tech it comes with, it’s a great deal.”
Tesla investor Sawyer Merritt
See Also:
- Tesla alerts customers that the $7,500 tax credit for the Model 3 RWD will drop
- Electric vehicles that qualify for the federal tax credit of up to $7,500
- 6 EV-makers disqualified from tax credit of up to $7,500 due to new battery sourcing requirements
- Tesla alerts customers that the $7,500 tax credit for the Model 3 RWD will drop
- All Tesla Model Y variants are now eligible for the $7,500 EV tax credit with a new $80,000 price limit
Notably, the Tesla Model 3 RWD costs $40,240, while the Long Range variant starts at $47,240. The top-level trim Performance starts at $53,240. Thanks to the $7,000 EV tax credits, the Tesla Model 3 now sells at a base price of $32,740.
However, it must be noted that the $7,500 tax credit is not available to all families or vehicles. Customers must earn less than a specific amount, and adding too many accessories to a Tesla vehicle will cause its price to exceed a particular threshold.
