It’s no secret that the future of transportation is being shaped by electric vehicles. The IRA will accelerate this transition through tax credits and grants. Here are some of the most notable ones:

• Establishes manufacturer tax credits for producing battery cells and modules that will reduce the overall cost of an EV
• Restructures the existing Clean Vehicle Tax Credit for consumers (i.e., eliminates the previous manufacturer quota, which phased out the tax credit for manufacturers as they neared 200,000 clean vehicles sold)
• Introduces a new $4,000 Pre-Owned EV Tax Credit for consumers 
• Creates a new credit for Commercial Clean Vehicles up to $7,500 for smaller vehicles and $40,000 for larger vehicles purchased for commercial use
• Reintroduces the Alternative Fueling Property Tax Credit 
• Delivers $1 billion in grants for zero emission heavy duty vehicles