One of the new requirements to claim an up to $7,500 tax credit on the purchase of a clean vehicle, effective for 2023, is that the clean vehicle must:
- Have undergone final assembly in North America, and
- Not exceed a manufacturer suggested retail price (MSRP) of $80,000 for vans, sport utility vehicles, and pickup trucks, or $55,000 for other vehicles.
To see if a specific vehicle meets the assembly requirements:
- Note the vehicle’sVehicle Identification Number (VIN),
- Go to the Department of Energy’s web page on Electric Vehicles with Final Assembly in North America: https://afdc.energy.gov/laws/electric-vehicles-for-tax-credit
- Use the VIN Decoder tool under “Specific Assembly Location Based on VIN.”
The IRS has recently published a list of qualified manufacturers that have indicated that their vehicles are currently eligible for a credit provided other requirements are met. Use the following web address to see which manufacturers are on the list, and check back later for updated information:
