EVs Approved for Full $7500 EV Tax Credit – Check the List!

With the enforcement of new and more stringent battery sourcing regulations effective January 1, 2024, the pool of electric vehicles qualifying for the federal government’s full $7,500 tax credit has reduced significantly. The EVs approved for the complete tax credit has shrunk from 14 electric vehicles to only 4 or 5.

Automakers have been racing to bring battery production in-house on American soil, after the automotive industry was hit hard with supply chain disruptions. However, despite the best efforts, many automakers like General Motors have faced obstacles with battery manufacturing.

Consumers unfortunately face a more limited selection of electric vehicles available for purchase, at least for the time being.

List of approved EVs

The list of vehicles that remain eligible for the government tax credit are the Ford F-150 Lightning, the Tesla Model 3, the Model X, the Model Y, and most recently the Volkswagen ID.4.

Ford F-150 Lightning

Starting at $57,090, the Ford F-150 Lightning combines decades of proven pickup truck performance with cutting-edge electric technology. Equipped with dual motors powering all-wheel drive, it delivers up to 580 horsepower, offering swift acceleration and quiet operation.

While all models share this configuration, the Extended Range variant boasts an impressive EPA-estimated driving range of 320 miles. Capable of towing and hauling like its gas-powered counterparts, the Lightning stands out with its sleek design and innovative features.

New for 2024 is the Platinum Black special edition, featuring exclusive styling elements and limited production. Additionally, the introduction of the Flash trim offers advanced technology at an affordable price point. With updates like keyless entry and enhanced driver assistance, the Lightning continues to set the standard for electric trucks in the automotive industry.

Tesla Model 3

The Tesla Model 3, renowned as one of the globe’s best-selling electric vehicles and consistently ranking among the top sellers in the U.S., has undergone a few notable updates for the 2024 model year. This sleek four-door sedan boasts a refreshed exterior, a completely revamped interior, and a host of technical enhancements to enhance both range and performance.

Integrated ambient lighting now traverses the cabin and extends into the doors, enhancing the overall aesthetic. An optional 17-speaker sound system promises an amplified entertainment experience, while the availability of ventilated front seats adds to the comfort level. Tesla has also expanded the trunk capacity from 19.8 cubic feet to 20.9 cubic feet.

While the main infotainment display retains its position atop the simple dashboard, it has been enlarged from 15 inches to 15.4 inches. The majority of vehicle controls now require interaction with the touchscreen, though this can lead to some frustration during initial setup as adjustments often necessitate navigation through menus. In the rear, passengers benefit from an 8-inch touchscreen offering individual climate control and access to infotainment features.

Model X

Starting at $81,630, the Tesla Model X has long been a treasure of Tesla’s electric vehicle lineup, and the 2024 model continues to turn heads with its distinctive design and cutting-edge technology. Available in two variants, the dual-motor Long Range model kicks off the lineup with a formidable 670 horsepower and an estimated driving range of 335 miles. For those seeking exhilarating performance, the Plaid model commands a higher price tag but delivers a staggering 1020 horsepower and boasts a range of up to 326 miles between charges.

While the Model X excels in terms of straight-line acceleration, it faces tough competition from newer luxury electric SUVs like the BMW iX and Rivian R1S, which highlight Tesla’s minimalist interior and perceived shortcomings in build quality.

Model Y

Tesla has yet to unveil any updates for the Model Y as it enters its fifth year on the market, although the company’s unpredictable nature means there could be mid-year alterations. However, anticipation is building for a potential styling refresh, known as Project Juniper, is expected to debut soon, likely as a 2025 model.

While the 2024 Tesla Model Y inherits many traits from the Model 3, including its platform, it sacrifices some of the sedan’s agile handling for its taller, SUV-like body. Despite this, the Model Y offers a spacious cabin and generous cargo capacity, making it a practical choice for families or those with a need for ample storage.

With an estimated maximum range of 330 miles for the Long Range model, the Model Y ranks among the top performers in its class in terms of driving range, outpacing competitors like the Ford Mustang Mach-E and the Volkswagen ID.4.

Volkswagen ID.4

The Volkswagen ID.4 is an all-electric newcomer, but it’s quickly gaining attention of consumers as an affordable, attractive alternative to Tesla models. Produced in Chattanooga, Tennessee, this electric SUV boasts a size comparable to gas-powered counterparts among its own lineup like the Volkswagen Tiguan.

The base models of the ID.4 are equipped with a single motor generating 201 horsepower, delivering power to the rear wheels and achieving an EPA-estimated range of up to 291 miles. For those seeking enhanced performance, an option for a dual-motor AWD configuration is available, boasting 330 horsepower and a larger battery.

While the ID.4 may not match the rapid DC fast-charging capabilities of competitors like the Hyundai Ioniq 5 and Ford Mustang Mach-E, its starting price just above $40,000 positions it as a compelling choice, offering ample space, stylish aesthetics, and a relaxed driving experience. .

For 2024, Volkswagen has implemented improvements to the ID.4, particularly for models equipped with the larger 77.0-kWh battery pack. These enhancements include an upgraded electric motor, boosting power to 282 horsepower in rear-wheel drive models and up to 330 horsepower in all-wheel-drive variants.

Additionally, the estimated EPA range has seen an increase of eight to sixteen miles, now ranging from 263 to 291 miles. Further enhancements include the integration of a new 12.9-inch infotainment display, backlit controls for volume and climate management, and the introduction of fresh wheel designs.

What do you think of the EVs approved for the federal tax credit? Do you plan on investing in an electric model in 2024? Share your answers in the comments below!