Phoenix Motorcars All-Electric Vehicles Eligible for up to $40,000 Tax Credit Per Vehicle Under the Inflation Reduction Act

Phoenix Motor vehicles available for tax credit include: Phoenix Shuttle Buses, Phoenix Trucks and Phoenix School Buses

Phoenix Motor Inc. manufacturer of all-electric, medium-duty vehicles, announced the company is now a qualified manufacturer for the commercial clean vehicle credit under the Inflation Reduction Act.

Phoenix Motorcars’ all-electric commercial vehicle models weighing greater than 14,000 pounds gross vehicle weight rating (GVWR) are eligible for up to $40,000 in tax credits. Tax credits for vehicles weighing less than 14,000 pounds GVWR are available up to $7,500.

On Jan. 1, 2023, the commercial clean vehicle credit became available to businesses and tax-exempt organizations for the purchase of new electric vehicles to incentivize the adoption of electric vehicles and support domestic production. Currently, there is no limit on the number of tax credits a business can claim.

“We are proud to be able to provide clean, safe and environment friendly transportation for those seeking purpose built, all electric vehicles including trucks, buses and cargo vans,” Dr. Lance Zhou, CEO of Phoenix Motorcars said. “Supported by the Commercial Clean Vehicle Credit, ownership of an all-electric commercial vehicle will be more affordable.”

Phoenix Motor’s medium duty vehicles provide reliability and efficiency, while helping address climate change. Phoenix Motor vehicles available for tax credit include: Phoenix Shuttle Buses, Phoenix Trucks and Phoenix School Buses. For more information on Phoenix’s vehicle and product offerings visit www.phoenixmotorcars.com/products. To learn more about Phoenix’s affordable financing visit www.phoenixmotorcars.com/solutions/financing-leasing.

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