Currently, there are no definitive changes announced specifically for plug-in hybrids (PHEVs) regarding federal tax credits, although there are reports that the Trump administration plans to end all federal EV/PHEV credits, which could affect both electric vehicles (EVs) and plug-in hybrids. However, these reports are speculative and not finalized as of now.
For the 2023 and later years, the tax credit for new clean vehicles, including both EVs and potentially PHEVs, can be up to $7,500 for eligible vehicles. In 2024 and beyond, stricter requirements, such as those related to battery sourcing, limit which vehicles qualify for the full credit.
As for the specific amount for plug-in hybrids, some models are eligible for either a partial $3,750 or the full $7,500 federal incentive, depending on the vehicle’s specifications and compliance with new regulations.
It’s crucial to monitor updates from the government as any changes to these credits could impact both EVs and PHEVs.
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