Tesla Cybertruck eligible for $7,500 EV tax credit, but there's a catch

Tesla Cybertruck has secured official approval for the coveted $7,500 federal tax credit set to roll out in 2023. However, there's a significant catch.

According to information provided by the U.S. Department of Energy, as of December 7, 2023, the tax credit applies to two specific versions of the Tesla Cybertruck: the all-wheel-drive variant and the top-tier, tri-motor Cyberbeast version. Regrettably, the rear-wheel-drive iteration of the Cybertruck has not yet made it to the list. Tesla enthusiasts awaiting this version may have to exercise patience until 2025, hoping for a glimmer of clarity on its eligibility.

The criteria states that the vehicle's price must not exceed $80,000. It's a requirement that might prove to be the Achilles' heel of Cybertruck.

As per Tesla's official website, the base price for the Cybertruck Cyberbeast is set at $99,990. The Tesla Cybertruck AWD meets the price requirement at $79,990, but there’s a spanner in the works - deliveries are not scheduled to commence until 2024. In essence, the tax credit for Cybertrucks in the current year appears to be a mirage.

What adds a touch of intrigue to this situation is that the Cyberbeast, despite its price clearly surpassing the cap, is listed by the IRS.

Before you set your sights on this tax credit bonanza, it's crucial to recognize that this information may have a limited shelf life. The EV tax credits are due for a shake-up in January, with new regulations concerning battery materials sourced from China coming into play. Below you’ll find the updated list of all EVs eligible for the tax credit.

Via