GM says Cadillac Lyriq again qualifies for $7,500 US EV tax credit

By Thomson Reuters Feb 21, 2024 | 8:52 AM

(Reuters) – General Motors said Wednesday the automaker’s Cadillac Lyriq is again eligible for a U.S. $7,500 electric vehicle tax credit after a battery sourcing change to address two minor components.

New U.S. Treasury battery sourcing rules took effect on Jan. 1 that cut by more than half the EVs eligible for tax credits. GM had offered $7,500 discounts to make up for the lost Lyriq credit.

The Chevy Blazer EV — which is currently subject to a stop sale over a software issue — also lost the credit. GM said last month it expects its Chevrolet Equinox EV, Chevrolet Silverado EV, GMC Sierra EV and Cadillac Optiq produced “after the sourcing change will be eligible for the full incentive.”

(Reporting by David Shepardson; Editing by Chizu Nomiyama)