Exterior of the new Tesla Model 3, at the 2017 LA Auto Show in Los Angeles, California on November 29, 2017. / AFP PHOTO / Mark RALSTON (Photo credit should read MARK RALSTON/AFP via Getty Images)
By Keith Laing | Bloomberg
All of Tesla’s Model 3 sedans are now eligible for the full US tax credit under new criteria for battery-sourcing set by the US Treasury Department, part of a Biden administration plan to spur adoption of electric vehicles.
The US government confirmed the tax credit of as much as $7,500 for all variations of the Model 3 in an update on its website Tuesday.
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 Tuesday, 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.
Originally published at Bloomberg