Tesla
has something else to celebrate this week, the Cybertruck officially earned the $7,500 federal tax credit. While this is a great feat for the brand and the Cybertruck in general, it comes at a strange time for America and electric cars in general. Check out how much the Tesla Cybertruck will run you with the credit, which still might be out of budget for many potential buyers.
Tesla
- Founded
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July 1, 2003
- Founder
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Martin Eberhard and Marc Tarpenning
- Headquarters
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Austin, Texas, United States
- Current CEO
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Elon Musk
Tesla’s Cybertruck And The EV Tax Rebate
Since President Trump took over the White House, the future of electric vehicles has been widely uncertain. One of the first things he did was halt federal EV initiatives, which meant rolling back “burdensome and ideologically motivated regulations” that favored electric vehicles.
The federal EV tax credit was slated for elimination but survived the first round of changes. It isn’t clear how long the credit will last, but the Cybertruck’s gaining this credit is a big deal. Does Elon Musk know something we don’t? That is very likely, and we hope it means that electric vehicles remain affordable.
This week, the all-wheel-drive Tesla Cybertruck is $79,990 without the tax credit. With the credit applied, it drops to $72,490. If you include the $1,000 referral fee, it drops to $71,490. Let’s be serious, though: This credit doesn’t help many American families who need an affordable EV. The high-end Tesla Cybertruck Cyberbeast starts at $99,990 and still does not qualify due to its MSRP.
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It Is Not In Tesla’s Best Interest To Keep The Credit
If President Trump were to eliminate the $7,500 credit, it would really only benefit Tesla. It would majorly impact other companies like Ford, Chevy, and Toyota, who are doing their best to design and sell EVs, but the credit is truly a driving force to get people into their vehicles. Tesla only makes electric cars and is pretty far ahead in the design and rollout of their lineup. While the move toward electric cars is inevitable in some ways, this government pushback will only slow things down.
The Cybertruck joins a long list of eligible cars as of January 14, 2025. According to the official IRS list, these include the new Acura ZDX performance SUV, Cadillac Lyriq, Cadillac OPTIQ, Ford F-150 Lightning, and the new Honda Prologue. Tesla still has the most available options, including the Cybertruck Single Motor and Dual Motor, all three Model 3 trims, the Model X AWD, and three different Model Y trims.
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The Current Qualifications
The rules have changed a little over the years, but for the most part an EV must have a battery capacity over 7 kilowatt-hours, and weigh less than 14,000 pounds. A qualified manufacturer must make it, undergo final assembly in the US, and be purchased new. The MSRP can’t exceed $80,000 for vans, SUVs, and trucks; the limit is $55,000 for other vehicles.
There’s no telling how long the credit will last, but now might be the time if you have been waiting to order your Cybertruck.
