The 2025 Hyundai Ioniq 5, offering improved features and a built-in North American Charging Standard plug, is notable for its lack of current EV tax credit eligibility, despite being produced in Georgia. As of now, its batteries are sourced from a Hungarian plant, disqualifying it from credits under the Inflation Reduction Act. However, with plans to transition battery production to Hyundai's Georgia facility by March, the Ioniq 5 is expected to qualify for the full $7,500 credit then, with interim customer incentives already in place for financing and leasing.
That will qualify [it] for the tax credits around March. We're still making our customers whole through incentive programs.
The EV tax credit, passed under the Inflation Reduction Act of 2022, is meant to incentivize automakers to build their electrified cars and batteries in North America.
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