The Genesis Electrified GV70 Is Eligible For $7,500 Federal EV Tax Credit

The Genesis Electrified GV70 is the primary and at the moment the one automobile from the Korean automotive producer that’s eligible for the $7,500 federal EV tax credit score launched by way of the Inflation Discount Act.

Whereas the Electrified GV70 will not be the corporate’s first EV, neither is it primarily based on a ground-up EV platform just like the smaller GV60, it’s the model’s first mannequin to be manufactured in the US and is at the moment being constructed on the automaker’s manufacturing unit in Montgomery, Alabama.

A key requirement for automobiles to be eligible for the revised tax credit score is that they be inbuilt North America. The GV60 had been eligible for the earlier tax credit score for a quick time however doesn’t meet new necessities, nor does the Electrified G80.

Learn: 2023 Genesis Electrified GV70 Priced From $65,850 Or $11k Extra Than V6

Auto Information notes that particulars of the sources of battery supplies for the Electrified GV70 nonetheless have to be decided and that these will affect simply how a lot of the tax credit score it’s eligible for. Moreover, the earnings of consumers will influence whether or not or not the credit may be utilized.

Genesis just lately introduced that U.S. pricing for the Electrified GV70 kicks off from $65,850 for the Superior AWD. Key options of this mannequin embody a panoramic sunroof, heated and ventilated entrance seats, a wi-fi machine cost, a fingerprint authentication system, and vehicle-to-load charging.

A extra feature-rich model can also be obtainable. Dubbed the Status AWD, it’s obtainable from $72,650 and comes loaded with options together with Nappa leather-based seats, a leatherette-wrapped higher instrumental panel, microfiber suede headliner, and a 12.3-inch digital instrument cluster.

All variations of the Electrified GV70 are powered by a pair of electrical motors combining to provide 429 hp and 516 lb-ft (700 Nm) of torque however peak energy can leap to 483 hp with the Enhance mode operate enabled. Discovered beneath the pores and skin of the SUV is a 77.4 kWh battery pack.