Tax Credits of Certain Electric Vehicles

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Purchasers of certain electric vehicles may qualify for lucrative tax credits. The credit isn’t new, but the IRS has added several new plug-in electric drive motor cars and light truck models to the list of qualifying vehicles. They include: 2020 Audi e-tron Sportback ($7,500 maximum credit), 2020 Audi A8L PHEV and AudiQ5 PHEV ($6,712 max); 2020 MINI Cooper SE Hardtop ($7,500 max) or 2021 MINI Coo per SE Countryman ($5,002 max); and 2021 Toyota RAV 4 Prime Plug-in Hybrid ($7,500 max), 2020 or 2021 Prius Prime Plug-in Hybrid ($4,502 max). The credit availability begins phasing out after a manufacturer has sold at least 200,000 qualifying vehicles in the U.S. Contact us with questions.

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