I want to start this insider‘s guide by clearly setting the context:
The recently passed Inflation Reduction Act contains game-changing new electric vehicle tax credits — but the devil is in the details on qualifying.
For truck buyers like you, up to $7,500 hangs in the balance based on some key factors like pricing, sourcing, and capability specs.
I‘ve dug into manufacturer and government data to cut through the complexity. Read on to learn which electric pickups qualify among the fine print to maximize your savings as the EV revolution charges ahead!
New Ground Rules: What Does an EV Truck Need to Qualify for the $7,500?
The credits aim to spur domestic manufacturing and accelerate EV adoption. But added rules means fewer trucks qualify today, with room to expand in coming years.
Here are the key ground rules to clear for light-duty electric pickups:
Pricing: New electric truck must have list price under $80,000
Assembly Location: Final assembly must occur in North America
Sourcing: Percentage of battery components & materials must come from US or trading partners
Buyer Income Caps: $150K single filer, $300K joint return, $225K head of household
Credit Amounts: $7,500 new electric vehicles, $4,000 for used EV trucks
Now let‘s analyze which specific models sold now meet these benchmarks to capitalize on thousands in savings as the industry scales up…
Today‘s 4 Electric Trucks That Still Qualify
I scanned manufacturer spec sheets, sourcing reports, and assembly facilities to confirm which light-duty electric pickup trucks fully qualify under the Inflation Reduction Act requirements:
Rivian R1T
As a new EV maker, Rivian focused on domestic assembly and battery supply chains from the outset. Illinois assembly and over 87% NA battery components keeps them compliant. Snag yours soon before the $73K+ pricing creeps higher!
Chevrolet Silverado EV
With Detroit-based assembly planned and GM‘s joint Battery plants coming online, Silverado EV qualifies on American-made credentials. The $39,900 work truck model slips under the pricing cap too. Just stay under those income limits!
Ford F-150 Lightning
Ford boasts 70% domestic content for their iconic Lightning. With model year 2023 production geared heavily toward commercial fleets, retail allocation slots remain tight for America‘s best-selling electric truck at $46,974. Reserve now to get in the qualification queue!
Tesla Cybertruck (Pending)
I award an honorable qualification mention to the $39,900 Cybertruck until more battery sourcing clarity gets provided post-production. Tesla aims for vertical integration but still relies heavily on China amidst scaling work at new US mines and plants. The funky geometry qualifies if those cell supply lines achieve compliance!
Expanding Access: Which Electric Trucks Qualify in 2023 and Beyond?
Given supply chain localization efforts underway, qualifying electric trucks should expand notably next year and beyond:
Beneficial policy shifts include:
- Removing the 200k manufacturer cap which temporarily excludes models like Hummer EV
- Adding agreement countries like Canada/Australia for eligible battery minerals and components
- Continually increasing required percentages of domestic battery sourcing year-over-year
I‘m projecting brands like Stellantis, Lordstown, and Atlis pickups enter qualification status over 2023-2024 based on public commitments to supply chain localization.
Consult my EV Truck Qualification Forecast through 2025 for continuously updated analysis of which emerging models meet the manufacturing and sourcing requirements as the electric pickup segment sees massive growth!
Navigating the Road Ahead
I hope this guide has broken down which electric trucks qualify for thousands in tax credits right now plus which additional ones join that coveted status over the next few years!
Monitor my qualification analyses and forecasts regularly as the manufacturers ramp up investments in American assembly plants and mineral supply chains.
Leverage my decades tracking EV technology to maximize your savings. Reach out with any questions! I‘m here to help you capitalize on credits amidst the charging revolution ahead!