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These Volkswagen EVs are now eligible for $7,500 tax credit in 2024

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10 months ago

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Volkswagen EVs $7500 tax credit

Volkswagen recently confirmed that its vehicles have returned to the $7,500 Federal Tax Credit list and it’s expected that the company will add new models through 2024.

Volkswagen MY23 ID.4 models are now eligible for tax incentives. The company has changed some of the components but primarily the battery, which is a mandatory requirement for all of the EVs qualifying under the Federal tax credit.

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The German car maker is sourcing new battery components from Korean battery maker SK ON for both MY23 ID.4 and MY24 ID.4 models. Volkswagen has only released the Volkswagen ID.4 2023 models with this new change and MY24 ID.4 will get a release later on.

The U.S. Department of Energy site has updated the list of $7,500 federal tax credit EVs and it includes:

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  1. ID.4 AWD Pro (2023-2024) – $7,500
  2. ID.4 AWD Pro S (2023-2024) – $7,500
  3. ID.4 AWD Pro S Plus (2023-2024) – $7,500
  4. ID.4 Pro (2023-2024) – $7,500
  5. ID.4 Pro S (2023-2024) – $7,500
  6. ID.4 AWD S Plus (2023-2024) – $7,500
  7. ID.4 S (2023-2024) – $7,500
  8. ID.4 Standard (2023-2024) – $7,500

Note: All of these EVs have a $80,000 Federal MSRP limit.

The 2023 ID.4 comes in two battery options and two powertrains. It has a starting MSRP of $38,995 for the standard model with a 62kWh battery and an EPA range of 209 miles.

The Pro model comes with an 82kWh battery with an EPA-estimated range of 275 miles. The rear wheels with a single permanent synchronous motor power the rear wheels and provide 201 horsepower. ID.4 AWD Pro models have 295 horsepower with an EPA estimated range of 255 miles.

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Volkswagen is also expecting the MY24 ID.4 models to qualify for the Federal tax once it’s released.

New Guidelines:

Internal Revenue Service (IRS) updated its guidelines for new energy vehicles including the critical mineral and battery component requirements to qualify for the tax credit.

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The battery supplier should be localized in the U.S., North America, or any other country that has a free trade agreement with the U.S.

(source – Volkswagen)

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Timothy started learning about game development and electronics at the age of 17. After involvement in different projects, he switched to Android app development and began pursuing smart hardware mechanics. Later on, he became fond of writing and tech journalism. Timothy covers major topics about internet personality, business, EV, Space, Social Media, and more. He loves to watch survival videos and try to find out new facts about the ocean and animals.

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