What Should Richardson Drivers Know About EV Tax Credits and Charger Incentives?
The federal Clean Vehicle Credit offers up to $7,500 in savings on qualifying electric vehicle purchases. This incentive is scheduled to expire on September 30, 2025, unless Congress extends it. Additionally, a separate tax credit for installing a home EV charger is available through June 30, 2026. If you’re thinking about an EV in Richardson, timing is crucial.
How Is the $7,500 EV Tax Credit Structured?
The credit splits into two parts:
- $3,750 for meeting battery component sourcing requirements
- $3,750 for meeting critical mineral sourcing requirements
Your vehicle’s eligibility depends on how and where it’s built.
What Are the Eligibility Requirements for Dodge, Chrysler, Jeep, and Ram EVs?
To qualify, your EV must:
- Be new at the time of purchase
- Contain a battery with at least 7 kWh capacity
- Be assembled in North America
- Be manufactured by a qualified company
- Remain under the MSRP cap: $80,000 for trucks/SUVs/vans and $55,000 for other vehicles
Additionally, the sale must be reported to the IRS, and income limits for buyers apply.
Why Should You Act Before These Incentives Expire?
The Clean Vehicle Credit ends on September 30, 2025, and the home charger credit expires on June 30, 2026. These deadlines may not be extended. Acting now ensures you don’t miss valuable savings.
How Can Richardson Dodge Chrysler Jeep Ram Help You?
Our team can help you determine which Dodge, Chrysler, Jeep, or Ram EVs qualify. We’ll guide you through eligibility requirements and IRS reporting to make your purchase smooth and beneficial.
Ready to Learn More About EV Incentives in Richardson?
Contact Richardson Dodge Chrysler Jeep Ram today or visit us to explore your options and claim your federal tax credits before they expire.
