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The Treasury Department said Friday it is making more electric vehicles - including SUVs made by Tesla, Ford and General Motors - eligible for tax credits of up to $7,500 under new vehicle classification definitions.
Updates to the Inflation Reduction Act include more electric vehicles are now eligible for tax credits of up to $7,500.
Updates to the Inflation Reduction Act include more electric vehicles are now eligible for tax credits of up to $7,500.
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In the 2021 model year, cars and station wagons, the most efficient vehicles, fell to 26% of U.S. new vehicle production.