ID.4 Models by Volkswagen Eligible for Full EV Tax Credit in 2023-2024

2024 ID.4: Affordable, Powerful, and Efficient

Volkswagen recently declared that the 2023 and 2024 versions of the ID.4 will be able to receive the complete $7,500 federal tax credit following the implementation of revised regulations under the Inflation Reduction Act.

This development comes in the wake of worries over the ID.4’s qualification for the EV tax incentive. The vehicle was originally manufactured in Germany before being relocated to the Volkswagen facility in Tennessee, USA in 2022. Additionally, the company has substituted the previously used LG battery with a SK On battery produced in Georgia, which is also used in the Ford F-150 Lightning.

According to Pablo Di Si, president and CEO of Volkswagen Group of America, the recent expansion of truly affordable EVs is excellent news for consumers in the US.

At the moment, the base Standard edition is priced at $38,995. However, with the application of the tax credit, the cost lowers to $31,495. This presents a considerable savings in comparison to competitors such as the Ford Mustang Mach-E, which has a starting price of more than $40,000.

When it comes to the Mustang Mach-E, the Blue Oval manufacturer’s small electric crossover vehicle is no longer eligible for the revised tax credit rules. This also applies to the Genesis Electrified GV70 and the BMW 330e.

In terms of specifications, the Volkswagen ID.4 Standard model is equipped with a 62 kWh battery that can travel up to 209 miles on one charge. The ID.4 Pro, on the other hand, boasts an extended range of 275 miles thanks to its larger 82 kWh battery. Both variants feature a single-motor configuration that delivers a decent 201 horsepower.

The lineup also includes an AWD model, featuring an additional electric motor in the front axle that results in a total power output of 295 horsepower. Nevertheless, this comes at a cost as the increased weight and energy consumption significantly reduce the range to only 255 miles.

The highly anticipated 2024 Volkswagen ID.4 is set to receive upgrades that will enhance both its performance and fuel efficiency. The all-wheel drive options will now boast a staggering 330 horsepower, making it more powerful than ever before. Fans can expect the new version to hit the market later this year.

Pablo Di Si, the CEO of Volkswagen Group of America, affirms that the ID.4 remains one of the most affordable electric SUVs available, with the added benefit of a $7,500 Federal Tax Credit. This highlights the successful choice to produce the ID.4 in Tennessee and expand investments in battery manufacturing, components, and advancements. With each sale of the ID.4, numerous American jobs are supported and progress is made towards a carbon-neutral future. Di Si states, “The ID.4 is already one of the lowest-priced electric SUVs on the market, and the $7,500 Federal Tax Credit makes it even more attainable. This shows that we made the right decision to localize [the] assembly of the ID.4 in Tennessee and invest even further in battery production, components, and innovation. Every ID.4 sold supports thousands of American jobs and helps advance our goal of a carbon-neutral future.”

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