Nissan has simply introduced that the brand new 2024 Nissan Leaf will qualify for the $3,750 federal tax credit score by December 31, 2023.
Beforehand, regardless of native manufacturing of the Nissan Leaf (in addition to its battery cells and battery packs) in Smyrna, Tennessee, the mannequin was not eligible for the federal tax credit score of as much as $7,500, beneath the Inflation Discount Act of 2022 (IRA)’s necessities.
The brand new 2024 mannequin yr was launched in June, however on the time, there was no indication of the upcoming change associated to the EV tax credit score eligibility.
At this time, Nissan confirmed that it “has been capable of certify that 2024 LEAF automobiles produced within the U.S. meet the ‘battery part’ necessities of the Inflation Discount Act of 2022 and should now qualify for the $3,750 tax credit score.”
In different phrases, Nissan secured one of many two essential battery necessities – the one associated to battery parts (50 % of the worth of battery parts should be manufactured or assembled in North America). This qualifies the Leaf for the $3,750 credit score.
To qualify for the complete $7,500 incentive, Nissan must additionally adjust to the vital minerals requirement (40 % of the worth of vital minerals should be mined or processed in america or FTA international locations, or recycled in North America).
The 2024 Nissan Leaf will qualify for the inducement by the top of this yr nevertheless it’s not clear whether or not it can qualify in 2024, as a result of on January 1, 2024, the 2 necessities will tighten to respectively 60 % and 50 %.
Nonetheless, those that buy the 2024 Nissan Leaf this yr would possibly rise up to a $3,750 incentive (assuming they meet all buy and earnings {qualifications}).
The entry-level Nissan Leaf S with a 40-kilowatt-hour battery and as much as 149 miles of EPA Mixed vary, begins at an MSRP of $28,140 (+ $1,095 DST). After deducting the federal tax credit score, the efficient value is $25,485. On high of that could be utilized different state/native incentives.
The SV Plus model, with a bigger 60-kilowatt-hour battery and 212 miles of vary, successfully can be out there beginning at $33,535.
“For greater than a decade, the Leaf has been some of the attainable electrical automobiles available on the market,” Judy Wheeler, divisional vp, Nissan U.S. Gross sales and Regional Operations mentioned in a press release. “Eligibility for a part of the federal EV tax credit score places Leaf inside attain for much more prospects who’re able to make the change to an EV.”