Tesla has confirmed that it is officially losing half of the $7,500 tax credit on two Model 3 trims starting next year.
Buyers of all Model 3 vehicles, depending on their own eligibility based on income, have had access to a $7,500 federal tax credit since the reform of the electric vehicle incentive program that was implemented in 2023.
Now, buyers are not the only ones with eligibility criteria. The electric vehicles also need to be eligible based on things like price and source of components.
The component criteria, and especially the battery material criteria, are changing every year and becoming stricter to include more batteries and materials built in North America.
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