Tesla Cybertruck buyers in the US have received a New Year’s Day gift as the electric pickup truck is now eligible for the $7,500 federal tax credit in the US. Along with the new eligiblity, the federal government has also indicated a cheaper Rear-Wheel Drive (RWD) variant of the Cybertruck may be coming soon.
According to new data published by the Internal Revenue Service (IRS) on January 1, the tax credit applies to the Dual Motor version of the Cybertruck, lowering the starting price for qualifying buyers from $79,990 to $72,490. The eligibility stems from Tesla’s ability to keep the MSRP of these configurations under the $80,000 cap required for electric trucks to qualify for the incentive.
While the Dual Motor Cybertruck is already in production and available to consumers, the Single Motor, Rear-Wheel Drive (RWD) Cybertruck has yet to be officially announced. Despite this, IRS listing indicates that Tesla plans to introduce this more affordable version in the near future.
The Tri-Motor Cyberbeast, with its price of $99,990, is not eligible for the incentive.
The updated tax credit guidelines are effective for vehicles delivered between January 1, 2025, and before January 1, 2026.
While the federal government has updated their website to indicate the Cybertruck’s eligiblity for the incentive, Tesla does not yet include the point-of-sale deduction on their online configurator.
However, uncertainty lingers over the future of the tax credit program. Political factors could influence its longevity, with potential changes to EV incentives under the incoming administration. President-elect Donald Trump has already indicated he will eliminate EV tax credits, a stance supported by Elon Musk.
