It's Come To My Attention That The Ferrari SF90 Stradale Qualifies For The EV Tax Credit

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Photo: Ferrari

The Ferrari SF90 Stradale is a 986-horsepower plug-in electric hybrid supercar with a price tag north of half-a-million dollars. I have good news if you’re in the market for one, as it has just come to my attention that the SF90 Stradale is eligible for the same federal tax credit you used to get when buying a Tesla.

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According to the Internal Revenue Service’s website, the SF90 is not eligible for the full $7,500 tax credit, but it is eligible for $3,501, which is sure to factor into your purchasing decision, though the SF90 Stradale isn’t the only electrified vehicle you might consider. There’s also the 2020 Bentley Bentayga Hybrid, which costs over $150,000, which is eligible for the full $7,500. And there’s at least one budget option available, in the form of the $79,900 Porsche Taycan, eligible for the full $7,500 credit too.

Here is the formula for the credit per the IRS:

Internal Revenue Code Section 30D provides a credit for Qualified Plug-in Electric Drive Motor Vehicles including passenger vehicles and light trucks. For vehicles acquired after 12/31/2009, the credit is equal to $2,500 plus, for a vehicle which draws propulsion energy from a battery with at least 5 kilowatt hours of capacity, $417, plus an additional $417 for each kilowatt hour of battery capacity in excess of 5 kilowatt hours. The total amount of the credit allowed for a vehicle is limited to $7,500.

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Manufacturers of the vehicles ... have provided appropriate information and have received from the Service acknowledgement of the vehicles eligibility for the credit and the amount of the qualifying credit.

I don’t know about you, but I for one am happy to live in a country that is trying to get as many electrified Ferraris, Bentleys, and Porsches on the street as possible. This world isn’t going to save itself.

More seriously: It is funny that Ferrari had to lift a finger to get the SF90 Stradale tax-credit eligible, and it actually did.

DISCUSSION

By
Romeo Reject

Incredibly stupid that a tax credit exists for people spending seven figures on a car. They can afford the $3,500, wasting that money on such a car is just taxing the population unnecessarily.