Here are the EV models eligible for the 2023 tax credit

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New car buyers can get credits of up to $7,500

The U.S. government has revised its policy on electric vehicle (EV) tax credits and most foreign-made EVs no longer qualify. Consumers who purchase new eligible vehicles can earn a tax credit of up to $7,500.

The revision means fewer EVs qualify for the tax credit than in previous years. Nine models have been phased out, leaving 16 eligible models.

Here’s the list of eligible EVs:

  • 2022-2023 Chrysler Pacifica PHEV

  • 2022-2023 Jeep Wrangler PHEV 4xe

  • 2022-2023 Jeep Grand Cherokee PHEV 4xe

  • 2022-2023 Ford F-150 Lightning (standard and extended range)

  • 2022 Ford e-Transit

  • 2022-2023 Ford Mustang Mach-E (standard and extended range)

  • 2022 Ford Escape Plug-in Hybrid

  • 2022 Lincoln Corsair Grand Touring

  • 2023 Lincoln Aviator Grand Touring

  • 2022-2023 Chevrolet Bolt

  • 2022-2023 Chevrolet Bolt EUV

  • 2023-2024 Cadillac LYRIQ

  • 2024 Chevrolet Silverado EV

  • 2024 Chevrolet Blazer EV

  • 2024 Chevrolet Equinox EV

  • 2022-2023 Tesla Model 3 Standard Range RWD

  • 2022-2023 Tesla Model 3 Performance

  • 2022-2023 Tesla Model Y AWD

  • 2022-2023 Tesla Model Y Long Range AWD

  • 2022 Tesla Model Y Performance

Some used models also qualify for a credit

Five Tesla models make the list, along with five Ford-Lincoln models and six General Motors cars. Of course, you'll have to spend a lot of money to get that $7,500 tax credit. The Chevy Bolt and Equinox are the two "affordable" cars on the list. 

There is also a tax credit that applies to used EVs. There is less emphasis on battery content or where the vehicle was manufactured. For example, a used Honda EV might qualify even though a new one doesn’t. Buyers will get a smaller tax credit and may have to meet certain income requirements.

For vehicles placed in service from January 1 to April 17, 2023, the base amount of the tax credit is $2,500. Additionally, there is an extra $417 for a vehicle with at least 7-kilowatt hours of battery capacity and an additional $417 for each kilowatt hour of battery capacity beyond 5-kilowatt hours, up to $7,500 total.

For vehicles placed in service April 18, 2023 and after:

Vehicles will have to meet all of the same criteria listed above, plus meet new critical mineral and battery component requirements for a credit up to:

  • $3,750 if the vehicle meets the critical minerals requirement only

  • $3,750 if the vehicle meets the battery components requirement only

  • $7,500 if the vehicle meets both

  • A vehicle that doesn't meet either requirement will not be eligible for a credit.

To claim the credit, file Form 8936, Qualified Plug-in Electric Drive Motor Vehicle Credit (Including Qualified Two-Wheeled Plug-in Electric Vehicles) with your tax return. You will need to provide your vehicle's VIN.

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