FILE PHOTO: A Volkswagen logo is seen at a construction completion event of SAIC Volkswagen MEB electric vehicle plant in Shanghai, China November 8, 2019. REUTERS/Aly Song/File Photo/File Photo
BERLIN (Reuters) – Volkswagen (ETR:VOWG_p)’s U.S.-assembled ID.4 models will be eligible for a $7,500 tax credit this year, according to the German carmaker, after new U.S. Treasury requirements on battery sourcing came into effect this week.
Volkswagen added that it was the only international carmaker to have a full battery-electric vehicle eligible for the full credit.
The US Treasury said on Monday that numerous automakers including VW did not qualify for the credit, but the German carmaker said at the time it was optimistic the documentation it had submitted to prove the ID.4’s eligibility would be approved.