Five electric vehicles from Hyundai, Kia and Genesis now qualify for the US's $7,500 EV tax credit. Electrek Report. The new models include popular vehicles like the Hyundai Ioniq 5 crossover SUV and the Kia EV9 three-row family hauler. Now, 25 EVs and plug-in hybrids across 10 brands qualify for credit,
However, Hyundai and Kia may not benefit if the incoming Trump administration makes drastic changes. President-elect vowed to end EV incentives during his campaign “on the first day Although American automakers have pleaded to let it be,
But unless Congress votes to end the program, Hyundai and Kia buyers can still receive the incentive for the 2025 tax year or take advantage of it through leasing. the new York Times recently reported Trump could try to take other action without Congress by ending the credit for leases or removing websites containing information about the program.