Sunday, May 19, 2024
Honda and Acura now qualify for the full $7,500 Federal Tax Credit, with the newest Honda Prologue all-electric cars in the US being eligible for this tax credit as of March 7. This credit applies to all 2024 Prologues, including leased ones acquired after February 26, 2024. Exciting developments await potential EV buyers. Honda and Acura now qualify for the full $7,500 Federal Tax Credit, with the newest Honda Prologue all-electric cars in the US being eligible for this tax credit as of March 7. This credit applies to all 2024 Prologues, including leased ones acquired after February 26, 2024. Exciting developments await potential EV buyers. Read more about the exciting updates and offerings from Honda and Acura below.
Hyundai's $7.6 billion electric vehicle megaplant, set to open in October 2024 in Georgia, is ahead of schedule. Accelerating construction to qualify for the $7,500 EV tax credit, Hyundai aims to produce 300,000 electric vehicles annually. Collaborating with LG Energy for battery production starting January, Hyundai secures its position as the second-largest US EV seller, surpassing Ford and GM.
Biden administration's recent rules substantially slash the electric vehicle models eligible for the $7,500 tax credit from 24 to just 13. Records reveal a significant reduction, excluding vehicles with Chinese battery components from the credit.
