Yes, the Chevy Equinox EV qualifies for a tax credit. According to the US Department of Energy’s website, the 2024 Chevy Equinox EV is eligible for a full $7,500 tax credit as long as the manufacturer’s suggested retail price (MSRP) does not exceed $80,000 [[3]].
Please note that the availability and details of tax credits can vary over time and depend on factors such as the specific model year and individual eligibility. It’s always a good idea to consult official sources or a tax professional for the most up-to-date and accurate information regarding tax credits.
Contents
- What happened to the equinox EV?
- How much will the 2024 Chevy Equinox EV cost?
- Is Equinox EV eligible for tax credit?
- How much is the Chevy Equinox EV after tax credit?
- How much will Equinox EV 2RS cost?
- Does Chevy get EV tax credit?
- How much is the 2025 Equinox EV?
- How do you qualify for the $7500 EV tax credit?
- How does the $7,500 tax credit work?
- Who is eligible for EV federal tax credit?
What happened to the equinox EV?
In its initial Equinox EV announcement, Chevy planned to have the 2RS trim in production by fall of 2023 and the 1LT trim in production by spring of 2024, with the rest of the trim lineup to follow in fall 2024. Things have been pushed back a bit. The Equinox EV is now entering production as a 2024 model year.
How much will the 2024 Chevy Equinox EV cost?
2024 Chevy Equinox EV Prices Range from $34,995–$52,395. The new compact electric SUV will offer up to 319 miles of range, and the more expensive 2LT, 3LT, 2RS, and 3RS models will arrive before the cheapest 1LT base model. Chevy released more details on the 2024 Equinox EV.
Is Equinox EV eligible for tax credit?
But it also doesn’t take into account the Equinox’s eligibility for the $7,500 federal EV tax credit, which the automaker says will be available to customers at the point of purchase. Applying the tax credit reduces the base model’s starting price to $27,495.
How much is the Chevy Equinox EV after tax credit?
It’s also worth noting that the Equinox EV is eligible for the $7,500 EV tax credit. Chevy points out that, so long as a buyer qualifies, the credit can bring the 1LT trim’s starting price down to as little as $27,495. With tax credit eligibility, the available 2LT trim’s price falls to $35,795.
How much will Equinox EV 2RS cost?
2024 Chevrolet Equinox EV Pricing
| Equinox EV 1LT | $36,390 |
|---|---|
| Equinox EV 2LT | $43,295 |
| Equinox EV 3LT | $45,295 |
| Equinox EV 2RS | $44,795 |
| Equinox EV 3RS | $46,795 |
Does Chevy get EV tax credit?
The Chevrolet Bolt EV and Bolt EUV remain eligible for the tax credits. GM expects the Cadillac Lyriq and Optiq; Chevrolet Blazer EV, Equinox EV and Silverado EV; and GMC Sierra EV to become eligible in early 2024 after the automaker implements changes to its supply chain.
How much is the 2025 Equinox EV?
While the Equinox EV won’t be hitting the originally targeted $30,000 starting price anytime soon, the front-drive 1LT trim will still arrive at a relatively reasonable $34,995 with an EPA-estimated range of 319 miles per charge.
How do you qualify for the $7500 EV tax credit?
Price cap. Vans, SUVs and pickup trucks must have an MSRP, or manufacturer’s suggested retail price, of $80,000 or less to qualify for the credit. Other vehicles, such as sedans and passenger cars, are capped at $55,000. For used vehicles, the price cap drops to $25,000.
How does the $7,500 tax credit work?
The $7,500 tax credit is actually two separate credits, each worth $3,750. Vehicles can qualify for both, one or neither. To qualify, in addition to the basic criteria above, the batteries in vehicles matter. That’s because the materials that go into those batteries also need to meet sourcing requirements.
Who is eligible for EV federal tax credit?
Vehicles meeting both the critical mineral and the battery component requirements are eligible for a total tax credit of $7,500. Vans, sport utility vehicles, and pickup trucks must not have an MSRP above $80,000, and all other vehicles may not have an MSRP above $55,000.
