The Tesla Cybertruck has been big news since its announcement more than five years ago, but it hasn’t been eligible for federal tax credits that could further boost its popularity. That has changed, at least for the base model, though it’s anybody’s guess as to whether or not the tax credits will continue into a second Trump presidency.
The cheapest Cybertruck started reaching buyers’ driveways in October, but early adopters missed out on the $7,500 tax credit. Now, however, the IRS website lists the Single- and Dual-Motor variants as being eligible for a credit as long as the purchase price doesn’t exceed the program’s $80,000 limit.
Tesla manufactures the Cybertruck’s battery cells in-house, and the delay in tax credit eligibility could be related to its need to have the cells approved for the incentive. Despite Tesla CEO Elon Musk claiming that the automaker would be better off without the credits, the Cybertruck has seen slowing sales, with the company offering immediate deliveries on some variants.
Even if Trump and Musk decide to move forward with a plan to nix EV tax credits, the move would require congressional approval, which takes time. It’s unclear at the moment whether the change would happen immediately or if the government would take a phased approach, but it is clear that the program is in the President-Elect’s crosshairs and will likely make it out of his second term without at least some significant changes.
[Images: Tesla]
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Source: The Truth About Cars
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