Nissan LEAF EV now eligible for $3,750 federal tax credit: What you need to know

In a notable development, the groundbreaking electric vehicle (EV) that initiated the widespread adoption of electric mobility now qualifies for an attractive $3,750 EV tax credit. Nissan’s meticulous adherence to the stipulated requirements has paved the way for the 2024 LEAF EV to earn this coveted financial benefit, marking a momentous milestone in the EV landscape.

Legacy and Evolution of LEAF

Judy Wheeler, Vice President of Nissan’s US sales division, underscored the profound significance of this achievement. “For well over a decade, the LEAF has consistently maintained its status as one of the most affordable electric vehicles available in the market,” she emphasized.

Back in 2010, Nissan introduced the LEAF, a significant milestone in the realm of EVs and widely recognized as the first mass-market electric car. For many years, the LEAF held the title as the top-selling EV, accumulating an impressive track record. It gained recognition for its commendable range and a comfortable driving experience, effectively carving a niche for itself in the burgeoning EV market. It wasn’t until early 2020 that Tesla’s Model 3 managed to eclipse the LEAF’s long-standing dominance.

 

Eligibility for Tax Credits

However, the spotlight has now firmly shifted to the 2024 Nissan LEAF and its newfound eligibility for a federal EV tax credit, substantially enhancing its appeal for prospective EV enthusiasts. This partial tax credit makes it even more accessible to a broader customer base eager to participate in the electric revolution.

To qualify for the full $7,500 tax credit, an EV must meet specific requirements, encompassing both the “battery component” and “critical minerals” criteria. The battery component requirement mandates that at least 50% of the battery components must be manufactured or assembled in North America. Similarly, the critical minerals requirement dictates that a minimum of 40% of the critical minerals used in the battery must be sourced or processed in the United States or a free trade agreement (FTA) country, or recycled within North America.

Located at Nissan’s Smyrna facility in Tennessee, both the LEAF and its battery undergo meticulous assembly. As a result, all new 2024 Nissan LEAF electric cars will remain eligible for this tax credit until the expiration date of December 31, 2023.

 

2024 Lineup Pricing & Details

The 2024 Nissan LEAF offers diversity in its lineup, featuring two distinct versions: the LEAF S and the SV Plus. The LEAF S is equipped with a 40 kWh battery and boasts an impressive EPA range of up to 149 miles. In contrast, the SV Plus comes equipped with a 60 kWh battery, which extends the range to a notable 212 miles. With pricing that initiates at $29,235, inclusive of a $1,095 destination and handling fee, the LEAF emerges as a highly competitive option in the EV market.

It also retains its CHAdeMO charging port, allowing for practical and efficient charging. Notably, an 80% charge can be achieved in approximately 40 minutes for the LEAF S.

As a further testament to its enduring appeal, Nissan reported a remarkable 23% surge in LEAF sales during the third quarter, with 1,570 units finding new homes. This year alone, Nissan has successfully sold over 5,800 LEAF electric cars in the United States.

The LEAF’s affordability significantly contributes to its popularity, with a starting price of $29,235. The added incentive of a $3,750 tax credit further enhances its accessibility. To take advantage of this opportunity, purchasers must act promptly, as the offer is set to expire on December 31, 2023.

Originally posted 2023-10-17 09:37:04.


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