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Five electric vehicles from Hyundai, Kia and Genesis now qualify for the US $7,500 EV tax credit, Electrek reports. The new models include popular vehicles such as the Hyundai Ioniq 5 crossover SUV and the Kia EV9 three-row family carrier. Now, 25 EVs and plug-in hybrids in 10 brands qualify for the credit.
However, Hyundai and Kia could lose the benefit if the incoming Trump administration makes drastic changes. The president-elect promised during his campaign to eliminate EV incentives the “first day”, although the American manufacturers have it begged to be let live.
But unless Congress votes to eliminate the program, Hyundai and Kia buyers will still be able to get the incentive through fiscal year 2025 or take advantage of it through a lease. The New York Times reported recently that Trump could try to take other actions without Congress by eliminating the rental credit or taking down websites with information about the program.
