US Treasury announces changes to Clean Vehicle Tax Credit

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Image via Kia

The US Treasury Department announced some big changes to the New Clean Vehicle Tax Credit.

Per Reuters, the department is now allowing leases to count for the $7,500 tax credit.

The Treasury released an initial list of 2023 EVs that meet the new requirements.

These requirements include North American assembly and MRSP below $80,000 for SUVs, Trucks and Vans and $55,000 for other vehicles.

Currently, the models included are:

Ford

Model Year Vehicle Description Applicable MSRP Limit
2022, 2023 Ford Escape Plug-In Hybrid $80,000
2022, 2023 Ford E-Transit Forthcoming
2022, 2023 Ford F-150 Lightning $80,000
2022, 2023 Ford Mustang Mach-E $55,000
2022, 2023 Lincoln Aviator Grand Touring $80,000
2022, 2023 Lincoln Corsair Grand Touring $55,000

Nissan

Model Year Vehicle Description Applicable MSRP Limit
2021, 2022, 2023 Nissan Leaf S $55,000
2021, 2022 Nissan Leaf S Plus $55,000
2021, 2022 NIssan Leaf SL Plus $55,000
2021, 2022 Nissan Leaf SV $55,000
2021, 2022, 2023 Nissan Leaf SV Plus $55,000

Rivian

Model Year Vehicle Description Applicable MSRP Limit
2022, 2023 Rivian R1S $80,000
2022, 2023 Rivian R1T $80,000

Stellantis

Model Year Vehicle Description Applicable MSRP Limit
2022, 2023 Chrysler Pacifica PHEV $80,000
2022, 2023 Jeep Wrangler 4xe $80,000
2022, 2023 Jeep Grand Cherokee 4xe $80,000

However, per Reuters, a more comprehensive list including other vehicles may come on the weekend.

Some of these vehicles eligibility may be short-lived  as the Treasury is also adding new battery rules that will go live in January.

The new rules will see half the credit contingent on at least 40 per cent of the value of the critical minerals in the battery extracted or processed in the United States or a country with a US Free Trade Agreement.

The current list of Free Trade Agreements is long but, does not include China, India or most of the Americas.

About Scott Nordlund 1483 Articles
Originally from the West Coast, Scott is an avid writer & EV enthusiast now living in Ottawa. He holds a MA in Political Science and once played professional football in the German Football League. Email scott@driveteslacanada.ca