Skip to main content

Electric vehicle tax credits, rebates and other incentives

As of January 1st, 2024, buyers are able to transfer the federal EV tax credit to a qualified dealer at the point of sale and effectively turn the credit into an immediate discount. See additional details at IRS.gov.
Electric vehicle is charging
Edmunds does not retain or share any data that you provide through this tool. We make every effort to provide accurate information, but please verify programs and eligibility before purchasing a vehicle. This information is provided subject to our Visitor Agreement.
135 results
  • Bonus Offer

    Customer Cash for Lease and Retail

    $30,000
    Maximum Rebate
    Receive a customer bonus when you purchase or lease a select, new Audi.* *Audi of America, Inc. will pay a customer bonus when you purchase a new, unused Audi through participating dealers from February 1, 2024 to February 29, 2024. Customer bonus applied toward MSRP and is not available for cash. May not be combined Puerto Rico Assistance Program. Offer not valid in Puerto Rico. See your local Audi dealer or, for general product information, call 1-800-FOR-AUDI. 2024 Audi of America, Inc.

    Program Provider
    Audi
    Expiration Date
    03/01/2024
    Shop EV Inventory
  • Bonus Offer

    Customer Cash

    $12,500
    Maximum Rebate
    Retail Bonus Cash (#11170). Eligible buyers may receive Retail Bonus Cash on select new vehicles. Incentive may be incompatible with certain finance types or other cash programs, based on individual program rules. Take new retail delivery from dealer stock by 04/02/2024. Residency restrictions apply. See dealer for qualifications and complete details.

    Program Provider
    Ford
    Expiration Date
    04/03/2024
    Shop EV Inventory
  • Bonus Offer

    Bonus Cash

    $7,500
    Maximum Rebate
    Eligible customers may receive cash incentive. Cash incentive may be incompatible with certain finance types or other cash programs, based on individual program rules. Residency restrictions apply.

    Program Provider
    Hyundai
    Expiration Date
    03/01/2024
    Shop EV Inventory
  • Bonus Offer

    Clean Vehicle Offer

    $7,500
    Maximum Rebate
    Not available with special financing, lease and some other offers. See dealer for details.

    Program Provider
    Cadillac
    Expiration Date
    06/04/2024
    Shop EV Inventory
  • Bonus Offer

    Clean Vehicle Offer

    $7,500
    Maximum Rebate
    Eligible customers may receive rebate towards the purchase or finance on select vehicles. Residency restrictions apply.

    Program Provider
    Polestar
    Expiration Date
    03/01/2024
    Shop EV Inventory
  • Bonus Offer

    Clean Vehicle Offer

    $7,500
    Maximum Rebate
    Not available with special financing, lease and some other offers. See dealer for details.

    Program Provider
    Chevrolet
    Expiration Date
    06/04/2024
    Shop EV Inventory
  • Bonus Offer

    Customer Cash

    $7,500
    Maximum Rebate
    Retail customers may be eligible for cash incentive. Incentive may not be combined with KIA Motor Finance Lease or Special APR financing. Residency restrictions apply.

    Program Provider
    Kia
    Expiration Date
    03/05/2024
    Shop EV Inventory
  • Bonus Offer

    Customer Cash

    $7,500
    Maximum Rebate
    Retail customers may be eligible for cash incentive. Incentive may not be combined with LFS Lease or Special APR financing. Residency restrictions apply.

    Program Provider
    Lexus
    Expiration Date
    03/05/2024
    Shop EV Inventory
  • EV Rebate

    Federal Credit

    $7,500
    Maximum Rebate

    Under the Inflation Reduction Act of 2022, the Internal Revenue Service (IRS) offers taxpayers a Clean Vehicle Tax Credit of $3,750 or $7,500 depending on model eligibility for the purchase of a new plug-in electric vehicle. Beginning January 1, 2024, Clean Vehicle Tax Credits may be initiated and approved at the point of sale at participating dealerships registered with the IRS. Dealers will be responsible for submitting Clean Vehicle Tax Credit information to the IRS. Buyers are advised to obtain a copy of an IRS "time of sale" report, confirming it was submitted successfully by the dealer. To be eligible:

    • A vehicle must have undergone final assembly in North America (the United States and Puerto Rico, Canada, or Mexico).
    • Critical mineral and battery component requirements determine credit amount.
    • Maximum MSRP of $55,000 for cars and $80,000 for SUVs/trucks/vans.
    • Income eligibility applies depending on modified adjusted gross income (AGI) and tax filing status.

    To learn more, visit https://www.irs.gov/credits-deductions/credits-for-new-clean-vehicles-purchased-in-2023-or-after


    Program Provider
    Internal Revenue Service (IRS)
    Expiration Date
    02/27/2024
    Shop EV Inventory
  • Bonus Offer

    Customer Bonus Cash

    $5,500
    Maximum Rebate
    Customers purchasing select Volkswagen models may be eligible for bonus cash incentive. See your Volkswagen retailer for complete details.

    Program Provider
    Volkswagen
    Expiration Date
    03/05/2024
    Shop EV Inventory
  • Student/Military/First Responder

    Military Offer

    $5,000
    Maximum Rebate
    USAA and Pentagon Federal Credit Union (PenFed) members may receive special incentives on select vehicles. USAA member requires a BMW Manufacturer Incentive Code Certificate. Not transferable to friends or family members. USAA member must be the Purchaser of record. See your BMW Center for complete details.

    Program Provider
    BMW
    Expiration Date
    03/01/2024
    Shop EV Inventory
  • Special Equipment

    Adaptive Equipment Allowance

    $1,500
    Maximum Rebate
    Audi is pleased to announce that we are continuing the Mobility Assistance Program for handicap hand controls that are installed on any qualifying Audi model. We will also consider other types of handicap assists (or other approved handicap assistance devices.) to anyone who purchases or leases a new Audi or CPO Audi vehicle. All exception requests from dealers should be made directly to mobilityassistance@audi.com

    Program Provider
    Audi
    Expiration Date
    01/02/2025
    Shop EV Inventory
  • Affiliations

    Affiliations, Clubs or Groups Offer

    $1,500
    Maximum Rebate
    UAW Member Offer (#32310). Eligible buyers may receive a UAW Member Offer on select new vehicles. Incentive may be incompatible with certain finance types or other cash programs, based on individual program rules. Not all buyers will qualify. Take new retail delivery from dealer stock by 12/31/2025. Residency restrictions apply. See dealer for qualifications and complete details.

    Program Provider
    Ford
    Expiration Date
    01/01/2026
    Shop EV Inventory
  • Affiliations

    Affiliations, Clubs or Groups Offer

    $1,000
    Maximum Rebate
    Customers who were Costco members as of January 02, 2024 or who become a Costco member at a Costco warehouse that opens after January 02, 2024 can use the allowance towards the purchase/lease one of the eligible models. Approval Code is required. Eligible Costco members should go to www.costcoauto.com. Offer is transferable within the household. Dealer will confirm eligibility. Can not be combined with some other offers. See dealer for details.

    Program Provider
    Cadillac
    Expiration Date
    03/01/2024
    Shop EV Inventory
  • Affiliations

    Affiliations, Clubs or Groups Offer

    $1,000
    Maximum Rebate
    Veterans, Active Duty and Active Reserve US Military Personnel, First Responders including 911 Operators, Police, Fire and EMT, Doctors, Nurses, Hospital Employees and other medical professionals with an NPI number, Classroom Teachers, Principals and Administrators, American Medical Association Members, American Dental Association Members, American Bar Association Members with eligible PIN may be eligible for incentive. See your Volvo retailer for complete details.

    Program Provider
    Volvo
    Expiration Date
    03/01/2024
    Shop EV Inventory
  • Conquest

    Conquest Offer

    $1,000
    Maximum Rebate
    Current owners of competitive vehicle (Acura, Alfa Romero, Aston Martin, Audi, Bently, BMW, Cadillac, Infiniti, Jaguar, Lexus, Lincoln, Mercedes-Benz, Maserati, Porsche, Rolls-Royce, Tesla, Volvo, Mini, Toyota, Nissan, Honda), may receive conquest offer. Owners of a 2008 or newer Hyundai model also qualify. Trade-in not required. Not compatible with loyalty offers an Valued Owner Coupon. Proof of competitive vehicle ownership required.

    Program Provider
    Genesis
    Expiration Date
    03/01/2024
    Shop EV Inventory
  • 2023 Audi RS e-tron GT

    2023 Audi RS e-tron GT
    $30,000
    Vehicle Rebates
    $125
    Charging Rebates
    + more qualifying rebates

    MSRP
    $143,900
    Up to 21% savings
    Edmunds Rating
    7.8/10
    Max EPA Range
    232 mi.
  • 2023 Audi e-tron GT

    2023 Audi e-tron GT
    $25,000
    Vehicle Rebates
    $125
    Charging Rebates
    + more qualifying rebates

    MSRP
    $104,900 - $111,300
    Up to 24% savings
    Edmunds Rating
    -
    Max EPA Range
    238 mi.
  • 2024 Audi RS e-tron GT

    2024 Audi RS e-tron GT
    $25,000
    Vehicle Rebates
    $125
    Charging Rebates
    + more qualifying rebates

    MSRP
    $147,100
    Up to 17% savings
    Edmunds Rating
    -
    Max EPA Range
    249 mi.
  • 2024 Audi e-tron GT

    2024 Audi e-tron GT
    $17,500
    Vehicle Rebates
    $125
    Charging Rebates
    + more qualifying rebates

    MSRP
    $106,500 - $114,500
    Up to 16% savings
    Edmunds Rating
    7.9/10
    Max EPA Range
    249 mi.
  • 2023 Ford F-150 Lightning

    2023 Ford F-150 Lightning
    $12,500
    Vehicle Rebates
    $125
    Charging Rebates
    + more qualifying rebates

    MSRP
    $49,995 - $91,995
    Up to 18% savings
    Edmunds Rating
    -
    Max EPA Range
    300 mi.
  • 2024 Ford F-150 Lightning

    2024 Ford F-150 Lightning
    $7,500
    Vehicle Rebates
    + more qualifying rebates

    MSRP
    $49,995 - $89,995
    Up to 15% savings
    Edmunds Rating
    8.4/10
    Max EPA Range
    -
  • 2023 Chevrolet Bolt EUV

    2023 Chevrolet Bolt EUV
    $7,500
    Vehicle Rebates
    $125
    Charging Rebates
    + more qualifying rebates

    MSRP
    $27,800 - $32,300
    Up to 27% savings
    Edmunds Rating
    8/10
    Max EPA Range
    247 mi.
  • 2023 Chevrolet Bolt EV

    2023 Chevrolet Bolt EV
    $7,500
    Vehicle Rebates
    $125
    Charging Rebates
    + more qualifying rebates

    MSRP
    $26,500 - $29,700
    Up to 28% savings
    Edmunds Rating
    8/10
    Max EPA Range
    259 mi.
  • 2024 Cadillac LYRIQ

    2024 Cadillac LYRIQ
    $7,500
    Vehicle Rebates
    $125
    Charging Rebates
    + more qualifying rebates

    MSRP
    $57,195 - $69,695
    Up to 13% savings
    Edmunds Rating
    -
    Max EPA Range
    314 mi.
  • 2024 Hyundai IONIQ 6

    2024 Hyundai IONIQ 6
    $7,500
    Vehicle Rebates
    $125
    Charging Rebates
    + more qualifying rebates

    MSRP
    $37,500 - $53,650
    Up to 20% savings
    Edmunds Rating
    8.2/10
    Max EPA Range
    361 mi.
  • 2024 Hyundai IONIQ 5

    2024 Hyundai IONIQ 5
    $7,500
    Vehicle Rebates
    $125
    Charging Rebates
    + more qualifying rebates

    MSRP
    $41,800 - $59,400
    Up to 18% savings
    Edmunds Rating
    8.3/10
    Max EPA Range
    303 mi.
  • 2024 Hyundai Kona Electric

    2024 Hyundai Kona Electric
    $7,500
    Vehicle Rebates
    $125
    Charging Rebates
    + more qualifying rebates

    MSRP
    $32,675 - $41,045
    Up to 23% savings
    Edmunds Rating
    -
    Max EPA Range
    261 mi.
  • 2023 Cadillac LYRIQ

    2023 Cadillac LYRIQ
    $7,500
    Vehicle Rebates
    $125
    Charging Rebates
    + more qualifying rebates

    MSRP
    $61,795 - $63,795
    Up to 12% savings
    Edmunds Rating
    -
    Max EPA Range
    312 mi.
  • 2023 Kia Niro EV

    2023 Kia Niro EV
    $7,500
    Vehicle Rebates
    $125
    Charging Rebates
    + more qualifying rebates

    MSRP
    $39,550 - $44,550
    Up to 19% savings
    Edmunds Rating
    -
    Max EPA Range
    253 mi.
  • 2024 Chevrolet Blazer EV

    2024 Chevrolet Blazer EV
    $7,500
    Vehicle Rebates
    $125
    Charging Rebates

    MSRP
    $51,800 - $56,200
    Up to 14% savings
    Edmunds Rating
    7.8/10
    Max EPA Range
    279 mi.
Previous123456Next
Showing 1 - 15 out of 135 results

Was this information helpful?

Federal EV Tax Credits Overview

Shopping for an electric vehicle (EV) or a plug-in hybrid electric vehicle (PHEV)? According to the landmark Inflation Reduction Act of August 2022, you can get up to $7,500 in tax credits if you purchase an EV or a PHEV, but it very much depends on the make and model you're considering. We'll give you the highlights here and encourage you to visit our in-depth analysis of the Inflation Reduction Act for full details. Additional incentives may be provided at the state and local levels, but our purpose here is to summarize federal EV tax incentives, not state and local incentives.

Federal EV Tax Credit Incentive #1: North American Final Assembly

You can't get any EV tax credits or PHEV tax credits unless the vehicle was assembled in North America, full stop. In the short run, this leaves some automakers out in the cold, but the idea is to create a new incentive to build clean vehicles right here on our home turf. Notably, meeting this final assembly requirement doesn't automatically mean you get a tax credit -- it just gets your foot in the door. Provided that the vehicle is assembled in North America, it may qualify for federal tax credits if further conditions are met. Specifically, the maximum $7,500 federal EV tax credit is made up of two separate $3,750 credits, one targeting EV battery minerals and the other EV battery components.

Federal EV Tax Credit Incentive #2: Origin of Critical Battery Minerals ($3,750 Tax Credit)

As with vehicle assembly, the U.S. government also wants to move the sourcing of critical battery minerals closer to home, at least in terms of trade partnerships. To this end, increasing percentages of critical EV battery minerals must be sourced from the U.S. itself or a U.S. free-trade partner, starting with 40% for 2023. The minimum percentage escalates quickly to 80% by 2027. Unless the EV or PHEV you purchase meets this requirement, you won't have access to at least half of the $7,500 maximum federal EV tax credit.

Federal EV Tax Credit Incentive #3: Origin of Battery Components ($3,750 Tax Credit)

Moving back to the assembly side, the U.S. likewise wants to incentivize the production of battery components at home or in free-trade partner countries. To enable this half of the $7,500 maximum tax credit for 2023, at least 50% of your vehicle's battery components must have been produced in the U.S. or in countries that have free-trade agreements with the U.S. Note that the minimum threshold escalates steadily to a full 100% by 2029, whereas the previous requirement regarding battery minerals stops (for now) at 80% in 2027.

Federal EV Tax Credit Incentive #4: No Involvement by Blacklisted Countries After 2023

Here's another one that's just about getting your foot in the door. In a not-so-subtle shot at China, which jumped out to a big lead in the EV battery business, the U.S. government has stipulated that once the calendar year flips to 2024, the EV or PHEV you purchase won't qualify for federal EV tax credits if any battery components came from a "foreign entity of concern," a short list that includes China, Russia, Iran and North Korea. For 2025, the stipulation will extend to critical battery minerals. Here again we can expect some short-term pain for automakers as they pivot from dependence on Chinese suppliers, but the financial incentives pushing that pivot are strong.

Federal EV Tax Credit Incentive #5: Price Limits

We use the plural because it depends on the type of vehicle you're considering. If it's an SUV, van, or pickup truck, it can't cost more than $80,000 or else it's not eligible for federal EV tax credits. For all other vehicle types, the eligibility limit drops to $55,000. The point of this incentive is to stimulate production of relatively affordable EVs as opposed to ultra-luxury models.

Federal EV Tax Credit Incentive #6: Buyer Income Limits

Finally, there's the question of how much money the buyer makes. Clearly the government wants to incentivize EV purchases within the middle class, because if you file your taxes as an individual, you won't qualify for federal EV tax credits unless you have a modified gross adjusted income (MAGI) of less than $150,000. If you file as head of household, that limit increases to $225,000, while joint filers can have a combined MAGI of up to $300,000.

FAQ


EV Tax Credits Vehicle Eligibility

EV Tax Credit Eligibility Infographic

Edmunds Latest Electric Car News

See all car news