Genesis announced that its EV models are now eligible for the $7,500 federal tax credit in the United States. They’ve been eligible for the incentive since the Inflation Reduction Act (IRA) went into force in 2022.
Eligibility for the tax credit comes after the company invested $7.6 billion in a new EV manufacturing plant in Georgia. The facility, known as Metaplant America (HMGMA), began production in October 2024, and it was built in just two years.
Genesis, Hyundai’s luxury brand, also has a qualifying model, the GV70. It is built at Hyundai’s manufacturing plant in Montgomery, Alabama.
The tax credit, together with other incentives such as a free NACS adapter that allows Hyundai EV owners to access Tesla Superchargers.
