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Automakers Are Using A Legal Loophole To Get Customers An Extra $7,500 Tax Credit - And Business Is Booming
09 Mar 2023 | Abstracted from Business Insider
"An automaker or its in-house finance arm can tap into the available commercial EV credit by leasing electric cars (that otherwise wouldn't qualify) to customers. This credit...goes to the company that owns the vehicle.
"Startup Lucid, along with at least 10 'traditional' automakers, are leveraging the commercial credit...[brands] utilizing the commercial credit are largely non-domestic and would likely have a harder time qualifying for the new EV purchase credit stipulations..."
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