A newly-revised version of the electric vehicle tax credit has been renewed for Tesla: these are the models that are expected to once again qualify.
As there are numerous stipulations for buyers to consider, here is a breakdown of how Tesla’s lineup will look once the tax credit is available:
Model 3
Model 3 Rear-Wheel Drive
The base configuration of Model 3, now simply known as Model 3 or Model 3 Rear-Wheel Drive, will be eligible at its purchase price of $46,990.
Model 3 Long Range All-Wheel Drive
New orders for the upgraded configuration of Model 3 featuring longer range and a Dual Motor setup have been temporarily halted by Tesla.
While the configuration held a starting price of $57,990, it’s plausible that Tesla will reduce the price to under $55,000 in order to be a qualifying electric sedan.
Model 3 Performance
Model 3 Performance starts at $62,990, and thus exceeds the $55,000 limit for sedans. Therefore, it won’t qualify.
Model Y
Model Y Long Range All-Wheel Drive
The base configuration of Model Y produced at Giga Fremont and Giga Texas starts at $65,990 which is within the limits for a SUV, making it eligible.
Model Y Performance
Model Y Performance starts at $69,990, also making it eligible as it falls within the MSRP limit of $80,000 for a SUV.
Effectively, all configurations of Model Y qualify.
Full Self-Driving
The only exception is that adding Full Self-Driving would push any current Tesla model above respective limits of $55,000 for sedans and $80,000 for SUV’s. It’s being determined that options will likely factor into MSRP limits.
However, Tesla buyers can add Full Self-Driving after taking delivery or as an option or subscription at any point via their Tesla account without impacting eligibility.
Model S / Model X
Unfortunately, a starting price of $104,990 pushes Model S well over the limit for sedans making it ineligible.
Similarly, Model X has a current starting price of $120,990 which also makes it ineligible.
Cybertruck
Cybertruck is expected to start at around $69,990 initially, and feature more affordable configurations down the line. As the limit for light trucks is $80,000, Cybertruck will qualify.
Robotaxi
Tesla’s upcoming autonomous Robotaxi has been alluded to starting at a price as low as $25,000. As it is likely to be classified as a sedan, it would also be eligible.
Roadster
A starting price of over $200,000 pushes Roadster well out of limits to be ineligible.
Tesla Semi
As a Commercial Clean Vehicle starting at $150,000, Tesla Semi is eligible for an incentive of as much as $40,000.
Final Eligibility
There are further eligibility requirements to keep in mind, including final production being completed in America and stringent battery material sourcing guidelines.
As of now, we expect Tesla to adeptly navigate keeping production for the U.S. market in North America and closely following battery requirements.
Taxpayers may make up to $150,000 as a single filer, $225,000 for head of household, or $300,000 for joint filers to be eligible. In the case of Tesla Semi, different qualifications would apply to businesses.
The tax credit is being renewed for Tesla in a manner that will benefit the most popular current and future configurations for the next decade beginning on January 1, 2023.
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