2023 GM Cadillac Lyriq start of production
GM expects the Cadillac Lyriq to qualify for tax credits, but other EVs might not, and automakers will have to take action to remain competitive.
  • Not very many electric cars are expected to qualify for the EV tax credits as new rules set in.
  • It will take time for car companies to prepare their EVs and supply chains in order to qualify.
  • Some automakers might take discounts into their own hands in the meantime.

If your electric vehicle doesn't qualify for tax credits, automakers might try to find other ways to drop the price and get you to buy one.