Last month, the 2024 Chevrolet Blazer EV was announced as the brand’s pioneer all-electric model, but will intending buyers get a federal tax credit?
Last month, General Motors announced the Chevrolet Blazer electric vehicle, and while this is a massive step in the company’s electrification of mobility, does this EV qualify for a federal tax credit? Although the Blazer EV won’t be available until the Summer of 2023, it’s not too early to determine whether the EV will receive a tax credit. Today, EVs are expensive mainly because the parts used for production are hard to find. An ongoing chip shortage has slowed production, causing automakers to deliver fewer EVs to the dealerships. Unfortunately, this has also led to dealerships charging higher MSRPs due to the limited number of electric models supplied by manufacturers.
The Chevrolet Blazer is a vital part of GM’s electrification mission which aims to roll out 30 new EVs. The vehicle also doubles as a direct competitor to the Tesla Model Y, Ford Mustang Mach-E and 2022’s World Car of the Year—Hyundai’s Ioniq 5. The world is going electric, with more automakers releasing an electric remake of a gasoline vehicle or building an EV from scratch. Aside from the Blazer EV, Chevrolet has announced the first-ever Silverado EV, which will be ready for sale next year. GMC, a GM subsidiary, has also launched the Hummer EV. Interestingly, intending buyers can choose to have the EV as either a pickup or an SUV.
As part of efforts to increase the appeal of EVs to consumers, the U.S government offers a federal income tax credit worth up to $7,500. One of the requirements is that drivers must purchase the EV new. Choosing the right electric car is dependent on the buyer’s knowledge of the segment. For instance, someone looking to stay within the lines of affordability may find it challenging to get a Tesla because the manufacturer has maxed out its tax credit. According to the regulations, automakers that have sold over 200,000 EVs no longer qualify for the credit. Considering Tesla’s large followership, it’s unsurprising to see the automaker lose its eligibility. General Motors is another automaker that is ineligible for the tax credit. The current lineup of GM EVs, like the Chevrolet Bolt EV, doesn’t qualify for the credit. While Fuel Economy doesn’t yet list upcoming models like the Blazer EV, the government may not reward drivers with the $7,500 credit. However, buyers may qualify for state incentives, depending on the state.
What To Expect From The Chevrolet Blazer EV
GM makes a good case for the 2024 Chevrolet Blazer EV by offering the SUV in four trims which start at $44,995 and peak at $65,995. Buyers can also choose from a suite of exciting colors like Radiant Red Metallic, Riptide Blue Metallic, Galaxy Gray Metallic and Summit White. The electric Blazer is no slacker in the performance department, with a GM-estimated power output of 557 hp and a 0-60 record of under four seconds. Ultium, GM’s new battery technology platform, is used to power this EV. Ultium is compatible with the SUV’s various range choices and drive systems like AWD and RWD.
While it’s uncertain that the Chevrolet Blazer EV will get the federal tax credit, buyers are promised the typical EV benefits. For instance, some states will allow buyers to take the High Occupancy Vehicle lane. Also, owners will benefit from knowing they aren’t polluting the environment. In addition, owners can multitask (shop and work) while the SUV charges. Finally, utility incentives can also be earned once owners install a home charger.
Source: Fuel Economy
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