Full Description
The 2025 Tesla Cybertruck is now eligible for the $7,500 federal EV tax credit, specifically its dual-motor variant starting at $82,235. Tesla’s upcoming single-motor model will also qualify, though pricing is not yet confirmed.
The EPA’s updated list of eligible EVs includes the 2025 Genesis Electrified GV70 (starting at $66,950), the 2025 Hyundai Ioniq 5 (priced between $43,975 and $67,575),
the 2026 Hyundai Ioniq 9 (pricing TBD), and the 2026 Kia EV9 (pricing also TBD).
The federal tax credit, part of the Inflation Reduction Act, can be applied at the point of sale or used to reduce a buyer’s tax bill. To qualify, EVs must be built in North America, with MSRPs below $55,000 for cars and $80,000 for light trucks/SUVs. A loophole allows leased vehicles to qualify under commercial vehicle classifications.