The EV tax credit under the Control Inflation Act is a mess. Vehicle eligibility is opaque at best.
Even if the rules were created, they would still be very complex as they would be limited by where the vehicle was manufactured, where the battery components came from, where the minerals in the battery came from, and by classification. And that’s before determining if a customer is eligible for any of the credits.
We expect too much from the mass market consumer. What we need is a computer.
Call it a website, a portal. Anything is fine. I need a place where I can see if the vehicle qualifies for the $7,500 credit, or the $3,750 credit, or nothing.
Some models, like the ID4 being all-wheel drive or rear-wheel drive, are built in different locations or are equipped differently in ways that regulators deem important, so they need to be VIN specific. I have.
Ultimately, each vehicle is unique.
Alliance for Automotive Innovation CEO John Bozzella said in a LinkedIn Live broadcast on Thursday. Benefit from tax deductions. “
He sympathizes with the IRS’s struggle to translate legislation into tax law. But when you put together all the information you need, it almost certainly leads him to some kind of website. Credits are due at the point of sale and he wants to see one by 2024.
“At some point, I think portals are inevitable,” said Bozera.