To qualify for a tax credit, there are no specific battery assembly requirements for used electric vehicles (EVs). The tax credits primarily apply to new clean vehicles. For new EVs, there are specific requirements:
- Battery Components Requirement: To qualify for part of the credit, at least 60% of the EV’s battery components must be manufactured or assembled in the U.S. or a country with a free-trade agreement with the U.S., starting from 2024. This percentage increases each year until it reaches 100% in 2029.
- Final Assembly Requirement: The vehicle must undergo final assembly in North America.
- Battery Capacity and Weight: The vehicle must have a battery capacity of at least 7 kWh and a gross vehicle weight rating of less than 14,000 pounds.
- Qualified Manufacturer Requirement: The vehicle must be produced by a qualified manufacturer.
Used EVs do not currently qualify for the federal tax credits, as the tax credits apply only to new vehicles that meet these specific criteria.
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