Hyundai Ioniq 5 and Genesis GV70 Electrified are officially eligible for the $7,500 federal tax credit at the point of sale for a purchase. Hyundai announced months ago that its refreshed Ioniq 5 would be built at its new “Metaplant America” in Georgia and claimed initial cars would be eligible for a $3,

Electric vehicles (EVs) from Hyundai Motor Group are now eligible for up to $7,500 (approximately 11 million won) in tax credits under the Inflation Reduction Act (IRA), marking the first time the South Korean automaker’s models have qualified for the program.

Hyundai Motor Group's five EV models will be subject to the U.S. tax credit program for EV purchases this year for the first time, industry sources said Thursday.

Hyundai, Kia, and Genesis electric vehicles join the list of $7,500 US tax credit qualifiers for the first time. This significant boost aligns with Hyundais rapid US expansion through local manufacturing and advanced