Following is a list of the credit amounts for qualified vehicles that are autos and are manufactured by well-known companies, using the latest data published by IRS (model years are in parentheses):
- . . . Audi A3 e-tron (2016), $4,502.
- . . . BMW i3 Sedan with Ranger Extender (2014—2016), $7,500
- . . . BMW i3 Sedan (2014—2016), $7,500
- . . . BMW i8 (2014—2016) $3,793
- . . . BMW X5 40e (2016), $4,668
- . . . BMW 330e (2016), $4,001
- . . . Chrysler Group, Fiat 500e (2013—2015), $7,500
- . . . FCA North American Holdings, Fiat 500e (2016), $7,500
- . . . Ford Focus Electric (2012—2016), $7,500
- . . . Ford C-MAX Energi (2013—2016), $4,007
- . . . Ford Fusion Energi (2013—2017), $4,007
- . . . General Motors Cadillac ELR (2014, 2016), $7,500
- . . . General Motors Chevrolet Volt (2011—2017), $7,500
- . . . General Motors Chevrolet Spark EV (2014—2016), $7,500
- . . . Hyundai Sonata Plug-in Hybrid Electric Vehicle (2016), $4,919
- . . . Kia Soul Electric (2016), $7500
- . . . Mercedes-Benz smart Coupe/Cabrio EV (2013—2016), $7,500
- . . . Mercedes-Benz B-Class EV (2014—2016), $7,500
- . . . Mercedes S550e PHEV (2015—2016), $4,042.90
- . . . Mitsubishi i-MiEV [Electric Vehicle] (2012, 2014, 2016), $7,500
- . . . Nissan Leaf (2011—2016), $7,500
- . . . Porsche 918 Spyder (2015),$3,667
- . . . Porsche Panamera S E Hybrid (2014–2015), $4,751.80
- . . . Porsche Cayenne S E-Hybrid (2015), $5,335.60
- . . . Tesla Roadster (2008—2011), $7500
- . . . Tesla Model S Vehicle (2012—2016), $7500
- . . . Toyota Prius Plug-in Electic Drive Vehicle (2012—2015), $2,500
- . . . Toyota RAV4 EV (2012—2014), $7,500
- . . . Volkswagen e-Golf (2015—2016), $7,500
- . . . Volvo XC-90 T8 Twin Engine Plug in Hybrid (2016), $4,585
A qualified vehicle is one that:
- Is a motor vehicle, namely a vehicle manufactured primarily for use on public streets, roads and highways (not including a vehicle operated exclusively on a rail or rails), that has at least four wheels.
Thus, vehicles manufactured primarily for off-road use—for example, use on a golf course—don’t qualify for the credit.
- Is treated as a motor vehicle for purposes of title II of the Clean Air Act.
This requirement has the effect of barring low-speed motor vehicles from the credit.
- Has a gross vehicle weight rating (GVWR) of less than 14,000 pounds.
- Is propelled to a significant extent by an electric motor that draws electricity from a battery that has a capacity of at least 4 kilowatt (kw) hours, and is capable of being recharged from an external source of electricity.
The taxpayer must be the original user of the vehicle, which must be used predominantly in the U.S. and must have acquired it for use or lease and not for resale.
Amount of the credit. The amount of the credit for a qualified vehicle is the sum of: (1) $2,500; plus (2) for a vehicle that draws propulsion energy from a battery with not less than five kw hours of capacity, $417 for each kw hour of capacity in excess of 5 kw hours, but not in excess of $5,000. Thus, the maximum credit is $7,500, regardless of weight.
The credit (as computed above) phases out beginning in the second calendar quarter following that in which a manufacturer sells its 200,000th plug-in electric drive motor vehicle for use in the U.S. after 2009 (50% credit reduction in second and third quarter; 75% in fourth and fifth quarter; 0 credit allowed thereafter).