All Tesla Model 3s Now Eligible for Full $7,500 Tax Credit
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All of Tesla Inc.’s Model 3 sedans are now eligible for the full U.S. tax credit under new criteria for battery sourcing set by the Treasury Department, part of a Biden administration plan to spur adoption of electric vehicles.
The government confirmed the tax credit of as much as $7,500 for all variations of the Model 3 in an update on its website June 6.
The change brings the total number of electric vehicle models eligible for the full tax credits to 22, including those from General Motors Co., Ford Motor Co. and Volkswagen AG.
Only the performance version of the Model 3 was previously eligible for $7,500 in tax credits. Before June 6, the Treasury Department had said the long-range Model 3, which Tesla recently resumed selling, would qualify for only $3,750 in federal tax credits.
Tesla’s Model S and Model X vehicles do not qualify for any tax credit.
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