The majority of 2023 and 2024 VW ID.4s are expected to meet the criteria for the full US Electric Vehicle (EV) tax credit in 2024. Here's a breakdown of the eligibility details:
VW's 2023 and 2024 ID.4 models equipped with SK On battery components manufactured in the US and put into service in 2024 will qualify for the complete $7,500 federal tax credit. SK On is the battery division of South Korea's SK Innovation, and its SK Battery America plant is located in Commerce, Georgia.
To illustrate, the 2023 ID.4 Standard model, featuring a 62 kWh battery, an EPA-estimated range of 209 miles, and a starting MSRP of $38,995, would effectively cost $31,495 after applying the tax credit.
It's worth noting that some 2023 models utilize LG battery components due to VW's agreements with both SK and LG Chem for supplying batteries, particularly for the rear-wheel-drive ID.4s equipped with the larger 82 kWh Pro pack. AWD cars and 62 kWh Standard and S trims, on the other hand, come with SK-supplied batteries.
Consumers can verify the battery component manufacturer by checking the car's window sticker (Monroney label). However, it's crucial to mention that model year 2023 ID.4s with LG components do not qualify for the full tax credit.
VW provides a caveat for the 2024 ID.4 model, stating that qualification is contingent on the current battery supply and may be subject to change since it relies on batteries that have not yet been produced. Nevertheless, the automaker expresses optimism that MY24 ID.4 vehicles will likely qualify throughout 2024, promising updates as information becomes available.
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