The U.S. federal EV tax credit might not make it out of 2025 alive at this rate, but that hasn’t stopped automakers from working to make their vehicles eligible for up to $7,500 in credits at the time of purchase. Hyundai and Kia recently said they expect to offer qualifying EVs this year, as they ramp up production at new U.S. manufacturing facilities.
The most recent list of qualifying vehicles excludes new Hyundai electric models, though the Kia EV9 and EV6 made the cut. Genesis was also bumped off the list due to tightening requirements for eligibility. Hyundai plans to begin mass production of the popular Ioniq 5 in the U.S. next month, and SK Battery America will start building batteries for both automakers here in the next few weeks.
All of that work could be for naught, however, as President Trump’s administration seems hell-bent on cutting everything that isn’t related to a tax cut. Hyundai has offered discounts and in-house incentives to get around the missed tax credits in recent times, which could be its path forward if the credits go away.
It’s also worth noting that many buyers could get around tax credit limitations by leasing. Hyundai’s deals reflect that loophole, as it has recently offered leases as low as $199 per month for the Ioniq 5, making it cheaper than some of the most popular gas models.
[Images: Hyundai]
Become a TTAC insider. Get the latest news, features, TTAC takes, and everything else that gets to the truth about cars first by subscribing to our newsletter.
