FYI: Hyundai and Kia electric vehicles now qualify for a $7,500 federal tax credit, making them even more attractive to EV shoppers.
Several models from the Hyundai and Kia lineup are now eligible for a federal tax credit of $7,500, adding more value to their already impressive electric vehicles. Recently revised regulations concerning electric vehicle tax credits have shifted which models are eligible, effective from January 1.
Electric Vehicle Excellence: Hyundai and Kia
Hyundai and Kia, renowned for their stylish and efficient electric vehicles, have long been a top recommendation for those considering a switch to electric. Known for their fast-charging capabilities, excellent range, and sleek design, these cars offer a compelling choice for the eco-conscious driver. With the inclusion of the $7,500 tax credit, Hyundai and Kia continue to stand out as cost-effective options for EV shoppers.
Inclusion in the Tax Credit Park
Previously, Hyundai and Kia were excluded from the federal tax credit due to stringent production requirements specified under the 2022 Inflation Reduction Act. However, as these brands now manufacture some of their electric vehicles domestically, a fresh batch of models has made it onto the eligible list.
Newly Qualified Models
The models now qualifying for this substantial tax break include:
– 2025 Hyundai Ioniq 5
– 2025 Hyundai Ioniq 9
– 2026 Kia EV6
– 2026 Kia EV9
– 2025 Electrified Genesis GV70
Notably, the Hyundai Ioniq 9, a three-row electric SUV similar to the popular Kia EV9, has yet to hit the market but promises to be a crowd favorite. The Ioniq 5 and EV6 have won over many drivers with their dynamic performance and design.
Innovative Charging Solutions
Adding to their appeal, the latest iterations of these Hyundai and Kia models will feature Tesla-designed charging ports. This innovation allows new owners to access Tesla Superchargers without requiring an adapter, simplifying the charging process significantly.
Recent Tax Credit Adjustments
Stricter regulations regarding battery sourcing have been implemented as of January 1, resulting in some models, like those from Rivian, being removed from eligibility. However, the Tesla Cybertruck has gained eligibility, demonstrating the evolving landscape of electric vehicle incentives.
Conclusion
In summary, Hyundai and Kia continue to lead the way in the electric vehicle market. Their inclusion under the federal tax credit umbrella further solidifies their position as leaders in affordable and advanced EV technology. For potential EV buyers, these models offer an incredible blend of performance, value, and modern technology.
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William Kouch, Editor of Automotive.fyi
