2024 Polestar 3 EV bring $7,500 incentive but for leasing

The upcoming 2024 Polestar 3 will bring an out-of-the-box $7,500 tax rebate for leases. This could help the leasing of this new EV more affordable rather than buying it from dealers.

A spokesperson confirmed to Carsdirect that the Polestar 3 doesn’t offer a $7,500 tax incentive on the purchase price but the incentive is limited to lease only.

The clarification comes after a bulletin was sent to dealers that the 2024 Polestar 3 crossover is already offering $7,500 in federal tax incentives.

Meanwhile, the vehicle is not listed on the official EPA website. Polestar announced previously set to debut in 2024 and its production will happen at Volvo Cars’ plant in South Carolina.

With its local assembly, the carmaker is expecting that the vehicle would be eligible for the federal tax rebate on the purchase. Last year, the IRS updated the requirement for electric car companies to get tax credits on new EVs.

Car companies are restricted from sourcing battery components from markets such as China and Russia. Also, the car must be produced locally in North America.