The Cadillac Lyriq Is Eligible For A $7,500 Federal Tax Credit Again
The Cadillac Lyriq once again qualifies for the full $7,500 Federal Clean Vehicle Tax Credit on electric vehicle purchase after updates to its battery pack.
The model, along with the Chevrolet Blazer EV, became ineligible at the beginning of the year when new rules on materials sourcing kicked in.
The regulation rewards electric vehicles that are built in North America with a certain percentage of components that come from a select group of U.S. free trade partners.
The change means more to General Motors than consumers, however, as the automaker has been offering a $7,500 discount on the vehicle to offset the change.
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According to Autoblog, the specific parts that needed to be updated were battery separators and electrolytes.
The Lyriq starts at $58,590 and all trims fall under the $80,000 price cap for SUVs to qualify for the credit.
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Cadillac sold 9,154 Lyriqs in 2023, but expects to ramp up production and deliveries this year.
Chevrolet has not yet responded to a request to confirm if the Blazer EV is also eligible again. Due to a software issue that is being addressed, it is not currently available for sale.
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