When the president signed the economic rescue/bailout bill yesterday, a new tax credit for plug-in vehicles came with it. It is similar to the current tax credit for hybrids (except Toyota/Lexus hybrids, which have surpassed the 60,000-vehicle phase-out limit). The differences are:
plug-ins only (battery of at least 4 kWh, measured from 100% charge to 0% charge, with offboard recharging)
$2500 minimum, $7500 maximum for passenger cars (battery of at least 16 kWh to qualify for the maximum)
for vehicles sold during calendar years 2009-2014
gradual phase-out after 250,000 vehicles sold (total, not by manufacturer)
There had been some talk this legislation was created with the Chevrolet Volt in mind. Indeed, the Volt’s 16 kWh battery maxes out the credit. Early drafts keyed on the amount of pure-battery driving, which would be fine for the Volt (which drains the battery before burning any gas) but would exclude vehicles &#...
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