Tesla Cybertruck now qualifies for up to $7,500 in federal tax credits

Under new, tougher rules that took effect on January 1 for federal subsidies for electric vehicles, Tesla’s (TSLA) Cybertruck now qualifies for up to $7,500 in U.S. tax credits for the first time. The number of EVs and plug-in hybrids currently qualified for a credit is 18 models, down from 22 last year, according to the Department of Energy and Environmental Protection Agency’s fueleconomy.gov website. The Cybertruck is one of four Tesla models that qualify, joining electric vehicles from other manufacturers that include Honda’s (HMC) Acura brand, General Motors’ (GM) Cadillac and Chevrolet brands, Stellantis’ (STLA) Chrysler brand, Ford (F), Hyundai Motor’s (HYMTF) namesake and Genesis brands, and Kia (KIMTF).