Electric vehicles have been growing in popularity as people become more aware of their impact on the environment and the benefits of going electric. To encourage the transition, the US government provides tax credits for electric vehicles. However, these credits are set to expire for some models, and only a select few are still eligible.

As the clock ticks on the remaining days for this tax credit, electric car buyers are racing to grab the last eligible models before it’s too late. The credits have been a significant incentive for consumers, with many electric vehicle manufacturers struggling to keep up with demand in recent months.

Currently, only 14 electric vehicles are eligible for the tax credit, including models from Tesla, General Motors, Ford, and Nissan. As of now, Tesla has the most models that are still eligible for the tax credit, with six vehicles on the list.

The tax credit extension was proposed in the Biden administration’s $2 trillion infrastructure plan, but it was not included in the final version that passed. The credits are set to expire once each manufacturer reaches 200,000 EVs sold. General Motors and Tesla have already reached this limit, while Ford and Nissan are getting close.

The tax credits are an essential incentive for consumers, as they can save up to $7,500 on the purchase of an electric vehicle. This credit applies to both new and used electric vehicles, making them a more affordable option for those looking to make the switch.

However, some experts believe that the tax credit system is flawed and that it does not provide equal opportunities for all electric vehicle manufacturers. The tax credit is limited to the first 200,000 vehicles sold, which means that once a manufacturer reaches that threshold, the credit is no longer available. This puts smaller manufacturers at a disadvantage as they are less likely to hit the 200,000 vehicle mark.

In addition, some argue that the tax credit should be based on the vehicle’s battery capacity, rather than the manufacturer. This would incentivize the development of vehicles with larger batteries, which would result in longer ranges and more significant environmental benefits.

Despite the potential flaws in the tax credit system, it has been an essential driver of electric vehicle sales in the US. As the tax credit comes to an end for some models, it remains to be seen how it will impact the electric vehicle market.

For now, consumers looking to take advantage of the remaining tax credits have a limited time to act. The clock is ticking, and once these 14 models sell out, the credit will no longer be available. The electric vehicle market is growing at an unprecedented rate, and the tax credit has been a crucial part of this growth. However, it remains to be seen how the market will adapt once the credits expire.