The $7500 federal tax credit is now available for the 2025 Tesla Cybertruck, with the dual-motor model starting at $82,235. The EPA has added the 2025 Genesis Electrified GV70, the 2026 Hyundai Ioniq 9, the 2026 Kia EV9, and other cars to its list of electric cars that can get federal tax breaks. The federal government incentive already lowers the price of new electric cars, but the program is said to be being canceled by the Trump administration. We now sell the Tesla Cybertruck for less and more. Electric pickup trucks with stainless steel bodies can now get the $7500 government tax credit. It’s about the $72,235 Cybertruck with two motors that will come out in 2025. The EPA’s list also includes a future version with a single motor. However, neither Tesla nor the rear-drive car has confirmed the price. The government incentive is now open to more types of new EVs besides the Cybertruck. It now has a number of Hyundai, Kia, and Genesis cars. Beginning at $66,950, the 2025 Genesis Electrified GV70 is the less expensive model. The more expensive model starts at $73,750. The tax credit also helps the 2025 Hyundai Ioniq range. The base model’s price drops from $43,975 to $67,575 for the Ioniq 5 N with 641 hp. The 2026 Hyundai Ioniq 9 doesn’t have a price yet, but when it goes on sale early this year, buyers of the three-row EV SUV will be able to get a $7500 credit. The prices for the 2026 cars haven’t been set yet, but the updated Kia EV6 and EV9 are now eligible. The EV6 for 2024 costs $43,975 to $62,975, and the EV9 for 2025 costs $56,395 to $75,395. The IRS is in charge of the government EV tax credit, which was part of the Inflation Reduction Act signed into law by Vice President Biden. The buyer may pay it with their taxes or have it taken out at the time of sale. EVs that meet certain standards must be built in North America. Light trucks and SUVs must have an MSRP of less than $80,000, and cars must have an MSRP of less than $55,000. The US Department of Treasury considers leases to be commercial cars, so there is a gap. However, it’s not clear how long the program will last because the new Trump government is saying it wants to get rid of federal tax credits for electric and plug-in hybrid cars.
