New all-electric, plug-in hybrid, and fuel cell electric vehicles purchased before October 1, 2025 may be eligible for a federal income tax credit of up to $7,500.
The availability of the credit will depend on several factors, including the vehicle’s MSRP, its final assembly location, battery component and/or critical minerals sourcing, and your modified adjusted gross income (AGI).
Pre-owned vehicles purchased before October 1, 2025 may eligible for a tax credit of up to $4,000.
Consumers are able to choose to transfer their new clean vehicle credit of up to $7,500 and their previously owned clean vehicle credit of up to $4,000 to a registered car dealer.
State and/or local tax incentives may also apply.
