Tesla’s Model 3 eligible for $7,500 tax credit, making it cheaper than a Toyota Camry

Tesla’s rapid adjustment of its battery supply chain means all of its Model 3 vehicles qualify for federal US credits that, along with other tax breaks, could lower its price to less than a Toyota Camry.$7,500 electric vehicle consumer tax creditsNew battery sourcing rules went into effect in April that lowered the credit of the Model 3 Standard Range Rear Wheel Drive and Long Range All-Wheel Drive to $3,750.

“It is highly likely it is Panasonic but there may be some concerns around cell availability if they need to supply enough for all US Model 3s,” he said. When asked about Tesla and whether there had been a change in its supply arrangements to North America, CATL said, “The strategic partnership between the company and customers has not changed and will continue to deepen and improve.”

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