Treasury makes more electric SUVs eligible for tax credits

The Treasury Department said Friday it is making more electric vehicles — including SUVs made by Tesla, Ford and General Motors — eligible for tax credits of up to $7,500 under new vehicle classification definitions.

But a complex web of requirements, including where vehicles and batteries must be manufactured to qualify, has cast doubt on whether buyers can receive the full $7,500 credit.

The decision raises the retail price cap for tax credits to $80,000 for GM’s Cadillac Lyriq, Tesla’s five-seat Model Y, Volkswagen’s ID.4 and Ford’s Mustang Mach-E and Escape plug-in hybrid. “I think it’s important that his team, senior members of his team, had a meeting with Elon Musk,” Jean-Pierre said last week.

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