Holy Grail for tram Adoption is supposed to come when mainstream electric vehicles can cost less than $30,000. For some US buyers, this is now a reality — thanks to government subsidies.
Earlier this week Tesla (TSLA) has announced on its website that all versions of Model 3 sedan now eligible for full federal EV tax credit is $7,500; It was cheaper before 3 . sample The Rear Wheel Drive (RWD) version is eligible for half the amount. The federal government has confirmed the above announcement fueleconomy.gov website.
Federal government requirements for the electric vehicle tax credit require that 40% of critical minerals be mined in the United States or a country with a free trade agreement and 50% of the value of the vehicle. battery Components must be manufactured or assembled in North America.
While no reason has been given for this change, it can be assumed that Tesla has updated where they source materials for the Model 3 RWD batteries or where they assembled the packages. Before the announcement, Tesla was said to be using LFP (lithium ion phosphate) battery cells. Made by CATL of China.
However, including the entire federal tax credit means Tesla Model 3 RWD is currently $32,740 if a buyer meets criteria including income and MSRP limits ($55,000 for cars; $80,000 for cars). truck and SUVs).
While $32,740 is a relative deal in one new car With an average market price of around $45,000, there could be more incentives on electric vehicles like the Model 3 to drag prices even lower. New York State offers up to $2,000 off electric vehicles through the Drive Clean Sale for which the Model 3 is eligible.
In California, the state offers an even bigger incentive – a tax of $7,500 sale off That depends on income and other requirements. The inclusion of both federal and California state incentives reduced the Model 3 to $25,240 — which Reuters’ notes lower cost of a new one Toyota Camry (prices start at $26,320).
Furthermore, Tesla has local offers in states like California for specific vehicles. Tesla is currently offering a $2,410 discount on the Model 3 RWD in Southern California, which means the price for this vehicle including all tax incentives will drop to a staggering $22,830 if buyers respond. all eligibility requirements.
Tesla investors and analysts are looking for their gen-3 vehicle platform to open up a whole new market for the middle class and younger buyers of electric vehicles. Turns out some of those buyers, especially in California, can get a Tesla for cheap right now — at least while the deals last.
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Pras Subramanian is a reporter for Yahoo Finance. You can follow him on Twitter and more Instagram.
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