The federal tax credit for electric vehicles focuses on the vehicles themselves rather than specific battery brands. However, to qualify for the full $7,500 tax credit, the vehicle’s battery must meet certain sourcing requirements:
- Battery Capacity and Sourcing: The battery must be at least 7 kWh for plug-in hybrids, and for electric vehicles, it must meet specific sourcing criteria. Starting in 2024, part of the battery components must be produced or assembled in North America, and critical minerals must come from the U.S. or a U.S. free trade agreement partner, or be recycled in North America to qualify for the full credit.
- Eligible Vehicles: Specific models like the Acura ZDX, and certain models from Ford, Nissan, GM, and Tesla might qualify for the credit if their battery sourcing meets the new criteria.
The IRS and Department of Energy provide tools to verify eligibility based on the vehicle identification number (VIN) rather than the battery brand itself. Therefore, while specific battery brands are not listed as eligible for the credit, the vehicles that use batteries meeting these criteria can qualify.
Original article by NenPower, If reposted, please credit the source: https://nenpower.com/blog/are-there-any-specific-brands-of-batteries-that-qualify-for-the-tax-credit/
