If you’ve been holding off buying your first electric vehicle year in and year out, now is the moment to do just that.
“I’ll put it off until next year.” Since the introduction of the current mainstream electric car, delaying a purchase has been a tempting tactic. Year after year, the range expanded, charging became more convenient, and manufacturers introduced new electric vehicles. However, when restrictions were removed, early-adopter benefits were also reduced. Tesla’s Superchargers no longer provide free power. Vehicles from GM and Tesla are no longer qualified for the federal tax credit.
Premium parking places with Level 2 charging are no longer always available for the lone visionary in a Model S. This is the turning point.
The coming year will see a slew of new electric vehicle models at a time when charging infrastructure is increasing and a $7500 federal tax credit is still in effect for the most part. To date, electric powertrains were primarily limited to high-end luxury vehicles or regulatory-compliant gas-economy-box modifications. We’ll soon see a $42,000 Ford with a frunk (the F-150 Lightning) and a 1000-hp crab-walking beast with T-tops (the GMC Hummer EV), to name a few.
In certain of these situations, you’ll be eligible for a $7500 tax credit, which was designed to sweeten the sale of automobiles with questionable cost-benefit analyses. But think about the Lightning: Uncle Sam is paying for you to buy a 563-horsepower truck that runs on electricity and can power your home in the case of a power outage—a.k.a. something you probably already want. Before the tax incentive for plug-in hybrids and electric cars is phased out, each manufacturer can sell 200,000 plug-in hybrids or electric vehicles. We’re thinking you wouldn’t want to dally on any of Ford’s EVs, given that it also makes the fantastic Mustang Mach-E.
The Kia EV6, Hyundai Ioniq 5, and, thanks be to Stellantis, the Jeep Wrangler-based Magneto are all in the same boat. That’s fine—it may take a year or more. However, something is always there.
