With more and more people driving electric vehicles now a new federal law is offering a tax credit of up to $7,500. But, do your research, because not all electric cars qualify for the tax break. The federal government has yet to make clear which vehicles will actually earn a tax credit. Here is the list the U.S. Department of Energy has put of vehicles that “may” qualify.
There are many American 2022 models including:
- Chevy Bolt
- Jeep Grand Cherokee plug-in hybrid
- Ford Mustang Mach E
- Chrysler Pacifica
- Tesla’s four models
Foreign brands include:
- Audi Q5
- BMW X5
- Nissan Leaf
- Volvo S60
But experts say the tax rules could change before the credit takes effect next year, and the list could change, so car shoppers should not assume a tax credit.