Does the Chevrolet Blazer EV qualify for a federal tax credit? and more Latest news here

Last month, the 2024 Chevrolet Blazer EV was announced as the brand’s pioneering all-electric model, but will future buyers get a federal tax credit?

Last month, General Motors announced the Chevy Blazer electric vehicle, and while this is a significant step in electrifying corporate mobility, does this electric vehicle qualify for a federal tax credit? Although the Blazer EV won’t be available until the summer of 2023, it’s not too early to determine if the EV will get a tax credit. Today, electric vehicles are expensive, mainly because the parts used for production are hard to find. A continued shortage of chips has slowed production, forcing automakers to deliver fewer electric vehicles to dealerships. Unfortunately, this has also led to dealerships charging higher MSRPs due to the limited number of electric models supplied by manufacturers.

The Chevrolet Blazer is a key part of GM’s electrification mission to roll out 30 new electric vehicles. The vehicle is also a direct competitor to the Tesla Model Y, Ford Mustang Mach-E and 2022 World Car of the Year, Hyundai’s Ioniq 5. an EV from scratch. Along with the Blazer EV, Chevrolet has announced the first-ever Silverado EV, which will be ready for sale next year. GMC, a subsidiary of GM, also launched the Hummer EV. Interestingly, potential buyers can choose to have the electric vehicle as a pickup truck or as an SUV.

Related: Chevrolet Teases Sporty-Luxury-Look Blazer EV

As part of efforts to increase the appeal of electric vehicles to consumers, the US government is offering a federal income tax credit of up to $7,500. One of the requirements is that drivers must purchase the EV new. Choosing the right electric car depends on the buyer’s knowledge of the segment. For example, someone looking to stay within affordability may find it hard to get a Tesla because the manufacturer maxed out their tax credit. According to the regulations, automakers that have sold more than 200,000 electric vehicles are no longer eligible for the credit. Considering Tesla’s large number of followers, it’s no surprise to see the automaker lose its eligibility. General Motors is another automaker ineligible for the tax credit. GM’s current line of electric vehicles, such as the Chevrolet Bolt EV, are not eligible for the credit. Whereas fuel economy doesn’t yet list upcoming models like the Blazer EV, the government may not reward drivers with the $7,500 credit. However, buyers may qualify for state incentives, depending on the state.

What to expect from the Chevrolet Blazer EV

GM is making the case for the 2024 Chevrolet Blazer EV by offering the SUV in four trim levels that start at $44,995 and top out at $65,995. Buyers can also choose from a range of exciting colors like Radiant Red Metallic, Riptide Blue Metallic, Galaxy Gray Metallic and Summit White. The electric Blazer is no slacker when it comes to performance, with a GM-estimated power output of 557 hp and a 0-60 record under four seconds. Ultium, GM’s new battery technology platform, is used to power this electric vehicle. Ultium is compatible with various range choices and SUV drive systems like AWD and RWD.

Although it is uncertain whether the Chevy Blazer EV will get the federal tax credit, buyers are promised the benefits typical of electric vehicles. For example, some states will allow buyers to use the high occupancy vehicle lane. Plus, homeowners will benefit from knowing they’re not polluting the environment. Additionally, owners can multitask (shopping and working) while the SUV is charging. Finally, utility incentives can also be earned once homeowners install a home charger.

Source: Fuel Economy