Federal All-Electric and Plug-in Hybrid Vehicle Income Tax Credit


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All-electric and plug-in hybrid cars purchased in or after 2010 may be eligible for a federal income tax credit of up to $7,500. The credit amount will vary based on the capacity of the battery used to power the vehicle. State and/or local incentives may also apply.

To be certified for the credit by the vehicle manufacturer, the vehicle must meet the following requirements:

  • The vehicle must be made by a manufacturer (i.e., it doesn't include conventional vehicles converted to electric drive).
  • It must be treated as a motor vehicle for purposes of title II of the Clean Air Act.
  • It must have a gross vehicle weight rating (GVWR) of not more than 14,000 lbs.
  • It must be propelled to a significant extent by an electric motor which draws electricity from a battery which
    • has a capacity of not less than 4 kilowatt hours and
    • is capable of being recharged from an external source of electricity.

The following requirements must also be met for a certified vehicle to qualify:

  • The original use of the vehicle commences with the taxpayer—it must be a new vehicle.
  • The vehicle is acquired for use or lease by the taxpayer, and not for resale. (The credit is only available to the original purchaser of a new, qualifying vehicle. If a qualifying vehicle is leased to a consumer, the leasing company may claim the credit.)
  • The vehicle is used mostly in the United States.
  • The vehicle must be placed in service by the taxpayer during or after the 2010 calendar year.

Contact


United States

Features

  • Vehicle manufacturers include:
  • AMP
  • Audi
  • BMW
  • BYD
  • Chrysler
  • CODA
  • Electric Mobile Cars
  • Fiat
  • Fisker
  • Ford
  • Ford/Azure Dynamics
  • General Motors
  • Honda
  • Hyundai
  • Karma
  • Kia
  • Mercedes-Benz
  • Mitsubishi
  • Nissan
  • Porsche
  • smart
  • Tesla
  • Think
  • Toyota
  • Via Motors
  • Volkswagen
  • Volvo
  • Wheego

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