Tesla has made an update to its website, announcing that customers purchasing a Tesla Model 3 in the United States can now enjoy the full federal tax credit of $7,500, regardless of the model they choose. This development means that both the rear-wheel drive Model 3 and its long-range and performance variants are now eligible for the maximum tax credit for electric vehicles (EVs). Furthermore, the same level of savings applies to buyers of the all-wheel drive, long-range, or performance Model Y.
In March, the US government revised the guidelines outlining which electric vehicles qualify for the federal tax credit of $7,500, in accordance with the Inflation Reduction Act regulations signed by the president last year. The updated guidelines came into effect on April 18th and stipulate that vehicles using battery components that are at least 50 percent made or assembled in the US are eligible for a tax credit of $3,750. Manufacturers can receive the full $7,500 credit if they source a minimum of 40 percent of their critical minerals from the US or its free trade partners, excluding China.
