New Vehicles Added for Plug-in Vehicle Credit

24 Aug New Vehicles Added for Plug-in Vehicle Credit

Posted at 21:17h in Insights by Patrick Artner

IRC Sec. 30D(a) provides a credit to the purchaser of a qualified plug-in electric drive motor vehicle, including passenger vehicles and light trucks. The credit allowed is equal to $2,500 plus an additional amount, based on battery capacity, that cannot exceed $5,000. The credit phases out over six calendar quarters beginning when a manufacturer has sold at least 200,000 qualifying vehicles in the U.S.

Recently, the IRS added the following models to its list of vehicles eligible for a $7,500 credit:

2022 Audi e-tron
Audi e-tron Sportback
Audi A7 TFSI e Quattro
Audi Q5 TFSI e Quattro

Eligible for a $5,836 credit:

2022 BMW 330e
BMW 330e xDrive
BMW 530e
BMW 530e xDrive
BMW 745e xDrive

Eligible for a $6,534 credit:

2022 Lincoln Aviator Grand Touring

For a full list of vehicles, see www.irs.gov/businesses/irc-30d-new-qualified-plug-in-electric-drive-motor-vehicle-credit.