It’s only been four days since President Trump killed the $7,500 federal EV tax credit by signing the One Big Beautiful Bill Act, but car companies are already capitalizing on the news to create urgency for buyers.
To qualify for the tax credit, you must take ownership of an EV by Sept. 30. As in, you must drive it off the lot by then, versus putting money down.
“In light of recent developments regarding the elimination of electric vehicle tax credits, Ford is saying: now is the time to buy electric vehicles,” Ford tells us via email. It’s extending its free home charger promotion, called Power Promise, until Sept. 30. Keep in mind, the F-150 Lightning is Ford’s only tax credit-eligible vehicle. The Mustang Mach-E does not qualify.
Tesla also updated its website with a large-font banner: “$7,500 Federal Tax Credit Ending—Take delivery by September 30, 2025.” All of its vehicles, the Model 3/Y/X/S, qualify for the credit. Ending it is a blow to Tesla’s already struggling sales following CEO Elon Musk’s polarizing political activities, the company’s aging lineup, and scrapping plans for a $25,000 EV.
Tesla homepage (Credit: Tesla)
Given the Sept. 30 deadline, be sure to check if there are delivery backlogs. For example, if you order a Tesla online, how long will it take to arrive at your house? Also, make sure you meet the income eligibility requirements ($150,000 for individuals, $225,000 for head of household, and $300,000 for married or jointly filing), and that the EV you’re interested in qualifies.
The electric vehicles that currently qualify for the credit are as follows:
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Acura ZDX
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Cadillac Lyriq, Optiq, and Vistiq
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Chevrolet Blazer, Silverado, and Equinox
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Ford F-150 Lightning
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Genesis Electrified GV70
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GMC Sierra EV
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Honda Prologue
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Hyundai Ioniq 5, Ioniq 9
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Jeep Wagoneer S
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Kia EV6, EV9
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Tesla Cybertruck, Model Y, Model 3, Model X
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Chrysler Pacifica Plug-In Hybrid (PHEV)
You can find the full list of model years and trims at fueleconomy.gov. As of this writing, the website hasn’t been updated with the new Sept. 30 deadline. It still says these vehicles qualify until Dec. 31, 2025, which is not the case.
There’s a chance that EV makers will lower prices once the tax credit ends to make up the difference, though nothing has been announced. If you don’t qualify for the credit now based on your income, however, it may make sense to wait and see what type of incentives automakers come up with, given that a big main marketing tool is going away.
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About Emily Forlini
Senior Reporter
