Shopping for an EV? Here’s What Qualifies for a U.S. Tax Credit in 2024

What we’re showing

The list of EV and PHEV models that qualify for U.S. tax credits in 2024.

Key takeaway

The list of qualified EVs in 2024 is relatively small. Many popular models like the Ford Mustang Mach-E are missing.

Context

The rules regarding EV tax credits have become more stringent in recent years. In addition to being manufactured in North America, EVs must use battery components that were sourced domestically as well.

Many foreign automakers including Toyota and Hyundai are rushing to build battery plants in the U.S. as a result.