This EV is Now More Affordable with Full $7,500 Tax Credit

Volkswagen has recently announced that its MY23 ID.4 models with SK On battery components and the upcoming MY24 ID.4 models will be eligible for the full $7,500 Federal Tax Credit when placed in service in 2024. This move significantly enhances the affordability of these electric SUVs. While the MY24 ID.4’s eligibility is based on current battery supply and may change, Volkswagen remains optimistic about its qualification throughout 2024.

Unique Position in the EV Market

Volkswagen would be the only foreign automaker to offer a full battery electric vehicle qualifying for the full Federal Tax credit in the U.S. This achievement is attributed to the company's USA based manufacturing plant and parts sourcing. Starting from 2024, eligible customers can even apply this tax credit directly as a down payment at the point of sale through participating dealers.

Popularity and Performance of the ID.4

The ID.4 has made recent strides in the electric vehicle market, being the fifth best-selling EV in the U.S. in 2023 with a sales increase of 84% over the previous year. Its popularity has come from both new and existing Volkswagen customers, as well as to those new to electric mobility.

Comments from Volkswagen Leadership

Pablo Di Si, President and CEO of Volkswagen Group of America, expressed enthusiasm over this development, citing it as a step towards making EVs more accessible. He emphasized Volkswagen's right decision in localizing the ID.4 assembly in Tennessee and investing in battery production, contributing to job support and a carbon-neutral future.

Specifications of the ID.4 Models