Here Is The Updated List Of Which EVs Qualify For The Full Federal Tax Credit

Which cars will be eligible for the full $7,500 federal tax credit has been a bit of a complicated mystery for months, as the feds finalize their rules and the full effect of the Inflation Reduction Act is felt. On Monday, the Treasury Department released an updated list of models that will be eligible for the $7,500, for cars put in service on or after Tuesday. Just ten models make the cut, but not all variants of them do. Here is a list of the ten that make it.

Before we get to that, though, let's rehash the rules for qualifying, one of which is that the car must cost below $80,000 if it's an SUV, truck, or van, and less than $55,000 if it's a sedan, hatchback, or wagon. That classification is determined by the Environmental Protection Agency. Households of buyers must have an adjusted gross income of $300,000 or less, or $150,000 or less for individuals. The car must be assembled in North America and, for now, at least half of the materials for the battery have to be assembled or produced in the U.S., or in one of its free-trade partners.

Those are the basic outlines, but there are a few more rules, too, all of which you can review on this fact sheet. The qualifying models listed below are those listed by fueleconomy.gov. Without further ado:

The Lyriq shows what GM can do when it tries, among other things.

Chrysler is basically just a minivan company at this point, and it makes a good one with the Pacifica PHEV.

The credit is just for the standard and extended range battery variants, N.B., while more than enough ink has been spilled on the Lightning, possibly the future of everything, according to Ford.

The Lincoln Aviator Grand Touring is always there if you're completely out of other ideas.

So is the Chevy Bolt and Bolt EUV.

Tens of thousands of people have lined up to buy the Silverado EV, presumably because they can't imagine the idea of buying a Ford. With the tax credit, that number may still grow.

The Blazer EV is a real glimpse of the future: A normal car that's been fully electrified, and that is pretty much it.

The same can be said for the Equinox EV.

The $7,500 credit only goes for the Performance, Long Range All-Wheel Drive, and All-Wheel Drive versions, and not the lowly Rear-Wheel Drive version, which makes one wonder why Tesla even bothers with it.

We've liked the Model Y for a good while now, if you can forget everything else about the automaker that is Tesla.

Some vehicles aren't eligible for the full tax credit but can receive a partial credit. Via Consumer Reports:

• Ford Escape PHEV (2022 and 2023 model years, MSRP $80,000 or below; may qualify for a partial tax credit of $6,843 due to battery size if put into service before April 18, 2023)

• Ford E-Transit (2022 and 2023 model years, MSRP $80,000 or below)

• Ford Mustang Mach-E (2022 and 2023 model years, 2022 and 2023 model years, MSRP $80,000 or below)

• Jeep Wrangler 4xe PHEV (2022 and 2023 model years, MSRP $80,000 or below)

• Jeep Grand Cherokee 4xe PHEV (2022 and 2023 model years, MSRP $80,000 or below)

• Lincoln Corsair Grand Touring PHEV (2022 and 2023 model years, MSRP $80,000 or below; may qualify for a partial tax credit of $6,843 due to battery size if put into service before April 18, 2023)

• Tesla Model 3 standard range Rear-Wheel Drive only (2022 and 2023 model years, MSRP $55,000 or below)

These cars include, via Automotive News, the 2023 Audi Q5 TFSI e Quattro Plug-in Hybrid, the 2023 Volkswagen ID4, 2022-2023 Volvo S60s, 2021-2023 Nissan Leafs, 2022-2023 Rivians, 2023-2024 Genesis GV70, and two BMWs: 2021-2023 330e Plug-in Hybrids and 2021-2023 X5 xDrive45e Plug-in Hybrids.

Whatever you do when buying a new or used EV this year or in the coming years, do consult a tax professional before buying and expecting a tax credit, because things are complicated and it wouldn't be that surprising if things changed yet again at some point in the future. And good luck out there!