However, it’s unclear how much the tax credit will help. The eligibility requirements are not just for the vehicles, but there are also some for the buyers. Single tax filers can’t earn more than $150,000, and $300,000 for dual filers, and higher income people tend to be the ones to buy luxury vehicles like these. Also, there’s the question of how long the tax credit will be available. The incoming Trump administration, which is backed by Tesla CEO Elon Musk, has made clear that they want to remove the EV tax credit. However, they will need Congress’ approval, and it’s unclear how fast that can happen and if there will be a phase-out period or not. Electrek’s Take While I am seriously against removing EV incentives while the US is still far behind the rest of the world in EV adoption, I do believe that the sentiment of urgency should help Tesla here. I am sure that some people were waiting for Cybertruck’s eligibility for the tax credit, but it’s hard to estimate how significant this buyer group is currently. I could see some eligible people waiting for the base version preferring to buy a dual motor with tax credit rather than risk not having access to the tax credit by the time the single motor version becomes available. Between the referral credit and the tax credit, the Cybertruck now starts really close to $70,000. Add Electrek to your Google News feed.