Under new, tougher rules that took effect on January 1 for federal subsidies for electric vehicles, Tesla’s (TSLA) Cybertruck now qualifies for up to $7,500 in U.S. tax credits for the first time. The number of EVs and plug-in hybrids currently qualified for a credit is 18 models, down from 22 last year, according to the Department of Energy and Environmental Protection Agency’s fueleconomy.gov website. The Cybertruck is one of four Tesla models that qualify, joining electric vehicles from other manufacturers that include Honda’s (HMC) Acura brand, General Motors’ (GM) Cadillac and Chevrolet brands, Stellantis’ (STLA) Chrysler brand, Ford (F), Hyundai Motor’s (HYMTF) namesake and Genesis brands, and Kia (KIMTF).
Don't Miss Our New Year's Offers:
- Discover the latest stocks recommended by top Wall Street analysts, all in one place with Analyst Top Stocks
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on TSLA:
- S&P 500 Starts Off the New Year on the Wrong Foot
- Alphabet’s (NASDAQ:GOOGL) Waymo Proves Winner in Self-Driving Stakes
- Tesla reports below-consensus deliveries: Morning Buzz
- Tesla’s Q4 production, delivery numbers a ‘modest negative,’ says Stifel
- Tesla Q4 deliveries missed consensus by about 3%, says Morgan Stanley
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
