Automobile

Your Next Volvo Can Be Bought With up to $7,500 off the Price | MotorBiscuit

Like other automakers, Volvo is steadily going green with hybrid and all-electric vehicles. In fact, Volvo created a new company, Polestar, to roll out hybrids and EVs, such as the Polestar 2. It also recently debuted the Recharge lineup of EVs. And thanks to these efforts, consumers can get $7,500 back when they buy certain Volvo models.

Some automakers, including Volvo, sell cars eligible for the federal EV tax credit

The all-electric Volvo C40 Recharge and XC40 Recharge | Volvo Car Corporation

Some Volvo customers can get up to $7,500 back thanks to the federal tax credit for electric vehicles and plug-in electric vehicles. It’s commonly known as the federal EV tax credit. The federal government uses a formula based on the size of the car’s battery pack to determine the size of the tax credit. As such, all-electric vehicles qualify for the maximum amount, while it’s a bit different for PHEVs.

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