Is the Silverado EV eligible for tax credit?
The Silverado EV can qualify for the federal clean vehicle credit under the Inflation Reduction Act, provided it meets key criteria such as North American final assembly, price under the truck threshold, and battery minerals/components sourcing.
This article examines how the credit works, the Silverado EV’s current eligibility status, and what buyers should know to claim the incentive in practice.
How the federal tax credit works under the Inflation Reduction Act
The federal clean vehicle credit offers up to 7,500 for eligible new electric vehicles, with eligibility tied to where the vehicle is built, how its battery is sourced, and the buyer’s income. The Silverado EV must meet all applicable requirements to qualify. Below are the main criteria buyers should understand.
Key eligibility factors to consider before buying are:
- Vehicle must be new and purchased (leases can affect who claims the credit). The credit is generally issued to the buyer or lessee at the time of purchase or lease, not to third parties after the fact.
- Final assembly must take place in North America. For the Silverado EV, GM’s assembly locations in the United States satisfy this requirement.
- Price cap applies to the vehicle category. Light-duty trucks have an upper price limit (often cited around $80,000). Trims below that threshold are eligible based on price; higher-priced trims may exceed the cap.
- Battery minerals sourcing requirement. A portion of the minerals used in the battery must be extracted or processed in North America or a qualifying Free Trade Agreement partner, with percentages phased in over time.
- Battery components sourcing requirement. A portion of the battery components must be manufactured or assembled in North America, with the required share increasing over time.
- Buyer income limits apply. Qualifying purchasers generally must fall below certain modified adjusted gross income (AGI) thresholds (e.g., around $150,000 for individuals or $300,000 for joint filers, with other statuses having different limits).
- Credit amount. If all applicable rules are met, a maximum of up to 7,500 is available, split as needed based on how the minerals and components rules are satisfied.
When evaluating eligibility, buyers should verify the exact current rules on the IRS and Energy Department websites, because the program has undergone updates since it began and continued clarifications are issued periodically.
Where the Silverado EV stands on eligibility
As of today, the Silverado EV is designed to meet the core IRA requirements for final assembly in North America and to offer trims priced under the truck cap, which keeps it eligible for the base credit when other criteria are satisfied. The exact eligibility for a given configuration depends on:
- The trim and price of the model you’re considering (some higher-priced variants can exceed the cap).
- Whether the battery minerals and battery components meet the required North American content thresholds, which can depend on battery supplier arrangements and the model year.
- Your personal income situation and filing status, which affect eligibility for the credit.
The official list of eligible vehicles is maintained by the Internal Revenue Service (IRS) and updated as automotive supply chains and sourcing arrangements evolve. Buyers should consult the IRS list for the exact VINs and trims that qualify in a given year and verify with their dealership when negotiating.
Steps to verify eligibility for your Silverado EV
To determine if a specific Silverado EV configuration qualifies for the credit, follow these steps before purchasing:
- Check the latest IRS eligibility list for the Silverado EV model year and trim you’re considering.
- Confirm the vehicle’s final assembly location is in North America (GM confirms Factory ZERO/other NA plants for Silverado EV).
- Verify the MSRP price of the exact configuration stays under the applicable cap for trucks.
- Review the battery supplier and chemistry to ensure compliance with minerals and components requirements.
- Ascertain your household’s Modified AGI is within the eligible range for the year of purchase.
- Ask the dealer how the credit would apply to your purchase or lease (credit treatment can differ for leases).
- Once purchased, file IRS Form 8936 with your annual tax return to claim the credit, and keep all purchase documents and VIN details handy.
In practice, the Silverado EV’s eligibility will hinge on a combination of model choice, price, and sourcing agreements, so prospective buyers should confirm all criteria with the dealer and review the IRS guidance for the current year.
Important notes and potential changes to watch
Policy details around the IRA credits can shift with new government rules or guidance. Buyers should stay informed about:
The credit amount, caps, and eligibility criteria can change, and the IRS periodically updates the eligible-vehicle list. Additionally, some credits may be influenced by lease structures, state incentives, and changes to battery-sourcing requirements. Always verify with official sources and consult a tax professional before claiming the credit.
Summary
In broad terms, the Chevrolet Silverado EV can be eligible for the federal clean vehicle credit under the Inflation Reduction Act, provided the chosen configuration meets North American assembly, price cap, and battery minerals/components requirements, and the buyer’s income falls within allowed limits. Because eligibility depends on model year, trim, and sourcing details, it is essential to check the current IRS eligibility list, confirm the exact configuration’s price, and consult with the dealer and a tax professional before purchasing.
Is the Chevy Bolt EUV eligible for tax credit?
While the Chevrolet Bolt EV and Bolt EUV no longer qualify for the federal tax credit, General Motors has quite a few vehicles that are eligible for the credit. The Cadillac LYRIQ, Cadillac OPTIQ, Chevrolet Blazer EV, Chevrolet Equinox EV, and Chevrolet Silverado EV are eligible for the $7,500 federal tax credit.
Is the Silverado EV selling well?
Chevy Silverado EV sales recorded 3,056 deliveries in the second quarter of 2025, an increase of 39 percent year-over-year.
Will Chevy Silverado EV qualify for tax credit?
Like the Chevy Equinox and Blazer, the EPA's Vehicle Eligibility Search tool shows that the Silverado EV qualifies for the full $7,500 credit amount.
Which EV does not qualify for tax credit?
Several electric and plug-in hybrid vehicles are no longer eligible for a federal tax credit in 2025. The Chevrolet Bolt EV, Nissan Leaf Rivian R1S and Volkswagen ID.
