Does the Honda Prologue qualify for the tax credit?
The Honda Prologue, an upcoming all-electric SUV, may qualify for federal tax credits, but the details are still being determined. The Prologue is set to be released in 2024, and its eligibility for tax incentives will depend on factors like its battery capacity, price, and production location.
Understanding the Electric Vehicle Tax Credit
The federal government offers tax credits of up to $7,500 for the purchase of new electric vehicles (EVs). This credit is designed to encourage the adoption of zero-emission vehicles and support the transition to a more sustainable transportation system. However, not all EVs are eligible for the full credit, as the amount depends on the vehicle's battery capacity and other factors.
Factors Affecting the Honda Prologue's Eligibility
To qualify for the full $7,500 tax credit, the Honda Prologue must meet the following criteria:
- Have a battery capacity of at least 16 kilowatt-hours (kWh)
- Be assembled in North America
- Have a manufacturer's suggested retail price (MSRP) below $55,000 for cars and $80,000 for SUVs and trucks
The Prologue's battery capacity and production location are still unknown, so it's unclear if it will qualify for the full credit. Honda has stated that the Prologue will be built in North America, which is a positive sign, but the battery capacity and MSRP will need to be confirmed closer to the vehicle's launch.
Potential Partial Credit
Even if the Prologue doesn't meet all the requirements for the full $7,500 tax credit, it may still be eligible for a partial credit. Vehicles with a battery capacity between 7 kWh and 16 kWh can receive a credit of up to $3,750, while those with a battery capacity below 7 kWh can receive up to $2,500.
The final determination of the Honda Prologue's tax credit eligibility will depend on the vehicle's specifications and the policies in place at the time of its release. Consumers interested in purchasing the Prologue should stay informed about the latest developments and requirements for the federal EV tax credit.
What is the Honda Prologue charger incentive?
EV Charging Solutions & Allowances
| Honda Prologue Charging Packages | Option A | Option B |
|---|---|---|
| Charging Equipment | Home Charging Station (Level 2) | Portable Charging Kit (Level 1 and 2) |
| Honda Home Electrification Installation Credit | $500 | $250 |
| EVgo Charging Credit | $100 | $300 |
| Electrify America Introductory Charging | 60 kWh | 60 kWh |
What hybrids are eligible for tax credits?
Which PHEVs Qualify for the Tax Credit?
| Make | Model | Model Year(s) |
|---|---|---|
| Q5 S Line 55 TFSI e quattro | 2023–2024 | |
| Chrysler | Pacifica PHEV | 2022–2024 |
| Ford | Escape Plug-in Hybrid | 2022–2024 |
| Jeep | Grand Cherokee PHEV 4xe | 2022–2024 |
Which Hondas qualify for tax credits?
So, what are the Honda cars that qualify for an EV tax credit? The federal tax credit will apply to all 2024 Honda Prologues built after February 26, 2024. Whether you choose the single-motor EX or the dual-motor Elite, you could potentially save big on your next purchase!
Will Honda Prologue qualify for tax credits?
The 2024 Honda Prologue is one of only seven all-electric SUVs currently eligible for the $7,500 federal tax credit!
