Tax incentive for all Tesla Model 3 vehicles in the US

It has been reported that all Model 3 vehicles of US electric car manufacturer Tesla will be eligible for tax incentives within the scope of new battery procurement criteria determined by the US Treasury Department. According to the information on the "fueleconomy.gov" website affiliated with the US Department of Energy, all Tesla Model 3 vehicles are eligible to benefit from the $7,500 tax incentive provided for electric, plug-in hybrid and fuel cell electric vehicles. Thus, the total number of electric vehicle models fully benefiting from the tax cut in the country has increased to 22. Previously, only the performance version of the Model 3 could benefit from the $7,500 tax incentive. The standard-range rear-wheel drive model and the long-range model of the Model 3 were also eligible to benefit from the $3,750 tax incentive following the new battery procurement rules of the US Treasury Department that went into effect in April. According to reports in the US press, the price of a Tesla Model 3, which starts at $40,240, could drop to $25,240 with the $7,500 federal tax credit and the $7,500 tax credit in California, depending on income and other liabilities, and could become more affordable than a Toyota Camry, which starts at $26,320. The Inflation Control Act, also seen as the “largest climate package” in US history, was approved by US President Joe Biden in August of last year. The law envisaged providing a tax credit of up to $7,500 for electric vehicles that use batteries produced in North America and contain minerals extracted from mines in the region.