Look out, Nissan. While your 2024 Leaf EV only qualifies for the partial $3,750 federal tax credit, Honda is here one day later announcing that they have one-upped you. The company has bigger ambitions and savings for its all-electric SUV.
In a press release, Honda announced that its new all-electric Prologue SUV will qualify for the full $7,500 federal EV tax credit. Lance Woelfer, assistant vice president of Honda National Auto Sales at American Honda Motor Co., Inc., said in a statement that the tax credit will allow the Prologue to hit the “sweet spot” of the EV market.
“Having the Honda Prologue qualify for the $7,500 EV tax credit is great news for our customers. The Prologue is stylish, sporty and priced right, hitting the sweet spot of the EV market and meeting the demand from our customers.”
The company says that all 2024 Honda Prologues built after Feb. 26, 2024, will be eligible for the full tax credit. Anyone who leases a Prologue will also get access to the credit in the form of cheaper monthly payments. Here’s the full pricing breakdown with the tax credit in mind:
With the Honda Prologue now officially on the list, here’s the breakdown of which vehicles qualify for the partial and full federal EV tax credit:
Which EVs qualify for the full $7,500 tax credit?
The following vehicles qualify for the full $7,500 federal tax credit:
- Chevrolet Bolt: 2022 and 2023 models, $55,000 or below
- Chevrolet Bolt EUV: 2022 and 2023 models, $55,000 or below
- Chrysler Pacifica Hybrid PHEV: 2022 through 2024 models, $80,000 or below
- Ford F-150 Lightning: 2022 through 2024 models, $80,000 or below
- Honda Prologue: 2024 models, $80,000 or below
- Tesla Model 3 Performance: 2023 and 2024 models, $55,000 or below
- Tesla Model X Long Range: 2023 and 2024 models, $80,000 or below
- Tesla Model Y All-Wheel Drive: 2023 and 2024 models, $80,000 or below)
- Tesla Model Y Performance: 2023 and 2024 models, $80,000 or below
- Tesla Model Y Rear-Wheel Drive: 2024 model, $80,000 or below
- Volkswagen ID.4: most 2023 and 2024 models, $80,000 or below
Which EVs qualify for the partial $3,750 tax credit?
The following vehicles qualify for the partial $3,750 federal tax credit:
- Ford Escape Plug-In Hybrid: 2022 through 2024 models, $80,000 or below
- Jeep Grand Cherokee 4xe: 2022 through 2024 models, $80,000 or below
- Jeep Wrangler 4xe: 2022 through 2024 models, $80,000 or below
- Lincoln Corsair Grand Touring: 2022 through 2024 models, $80,000 or below
- Nissan Leaf: 2024 model, $80,000 or below
- Rivian R1T: 2022 through 2024 models, $80,000 or below
- Rivian R1S: 2022 through 2024 models, $80,000 or below
Now that the Prologue is on the list, we’ll have to see if the Rivian R2 makes it as well. The company is hosting its R2 reveal today, so we’ll find out soon!
