Industry

VW is now the first foreign carmaker to qualify for the full EV $7,500 tax credit

by admin 31 Comments

Share on Facebook
Share on Twitter
Share on Pinterest
Share on LinkedIn
VW tax credit

VW has become the first non-US automaker that qualifies for the full $7,500 US federal EV tax credit.

VW ID.4 federal tax credit eligibility

Volkswagen made its announcement of eligibility yesterday, two days after the US Treasury Department announced a list of qualifying EV models that were all made by US companies. VW was late to announce its eligibility because it was awaiting documentation from its battery supplier to send to the Treasury Department. The ID.4 models are now listed on the fueleconomy.gov website as eligible.

All model year 2023 ID.4 models placed in service this year are eligible because they’re manufactured in Chattanooga, Tennessee. VW is also sourcing the ID.4 batteries in the US.

Pablo Di Si, president and CEO of Volkswagen Group of America, said:

The ID.4 is already one of the lowest-priced electric SUVs on the market, and the $7,500 federal tax credit makes it even more attainable. This shows that we made the right decision to localize production of the ID.4 in Tennessee and invest even further in battery production, components, and innovation. Every ID.4 sold supports thousands of American jobs and helps advance our goal of a carbon-neutral future.

The 2023 ID.4 comes in two battery sizes and two powertrains.

The ID.4 Standard model has a starting MSRP of $38,995 that has a 62kWh battery and an EPA-estimated range of 209 miles. The ID.4 Standard is $31,495 after the $7,500 tax credit is applied.

The ID.4 Pro has an 82 kWh battery with an EPA-estimated range of 275 miles. A single permanent magnet synchronous motor powers the rear wheels and provides 201 horsepower.

The ID.4 AWD Pro model adds an asynchronous motor to the front axle, resulting in a bump to a max of 295 horsepower as well as AWD capability, and it has an EPA-estimated range of 255 miles.

Electrek’s Take

I bought a 2023 VW ID.4 AWD Pro late last year, and I really like it. It’s reliable, fun to drive, and it felt solid in the snow. My car qualified for the full $7,500 tax credit. That was a great feeling.

If you decide to buy or lease an ID.4, check to see if you qualify for a state rebate or tax credit, too – I got a generous rebate from my utility, Green Mountain Power in Vermont, for going fully electric.

Remember that if you buy a car that qualifies for the full tax credit, talk to a tax adviser about how to ensure you get that credit. If you owe less than $7,500, then any unused tax credit just disappears – it doesn’t roll over to the next year.

Click here to find a local dealer that may have the VW ID.4 EV in stock. – affiliate link*

UnderstandSolar is a free service that links you to top-rated solar installers in your region for personalized solar estimat

This article was originally published by Electrek.co. Read the original article here.
Share on Facebook
Share on Twitter
Share on Pinterest
Share on LinkedIn

Products You May Like

31 Comments

Leave a Reply

Your email address will not be published. Required fields are marked *