US Treasury Department revises clean vehicle credit rules under the IRA!

[Shepherd]

https://home.treasury.gov/news/press-releases/jy2323

It's not clear yet to me if a Mach-E purchased in 2024 now qualifies for any credits. It would be nice if they do!

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[LinkRS]

Howdy, there is a tool you can use to see the possibility of eligibility. Check here: https://fueleconomy.gov/feg/tax2023.shtml
It says in here to make sure to check with the dealer, but it does not list any Mach-E purchased after 1 Jan 2024 :-(

 

[Mach-Lee]

https://home.treasury.gov/news/press-releases/jy2323

It's not clear yet to me if a Mach-E purchased in 2024 now qualifies for any credits. It would be nice if they do!

Mach-E no longer qualifies for 2024. Hence the price cuts.

 

[Keeperofthe7keys]

Mach-E no longer qualifies for 2024. Hence the price cuts.

Wait, it doesn't? I was kinda surprised the CATL battery qualified at all, but what changed that neither battery does now?

 

[Shepherd]

Wait, it doesn't? I was kinda surprised the CATL battery qualified at all, but what changed that neither battery does now?

My understanding is the battery’s composition of elements from “foreign entities of concern” didn’t change. The regulations changed the allowable components causing the Mach-E and many others to drop off the list for 2024 and later.

This new revision by Treasury might have reversed that for 2024. I’m still digging into what the revision means, viz a tax credit for this year. Regs take a while to implement so not surprising that there isn’t clear guidance yet.

 

[RickMachE]

I believe this applies to rules that were going into effect in 2025, now will go into effect in 2027.

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