Electric Motorcycles Are (Again) Eligible for 10 Percent Federal Tax Credit, until January of 2022.
In a report on Businesswire early February, Zero Motorcycles announce the eligibility of their entire motorcycle line for the passed tax credits. The bill was passed and approved by Congress, and signed into law on December 27th, 2020. After pressure put on Congress, it has been extended further until January 1st 2022.
There were several other electric motorcycle manufacturers from coast to coast that together with Zero Motorcycles helped to rally Congress to take action to ensure the plug-in tax credit would be extended.
The electric motorcycle industry is rapidly responding to our country’s need for affordable and environmentally responsible transportation, and Zero Motorcycles is excited to combine our extreme passion for motorcycles with something that benefits everyone.
These tax credits represent an investment in a cleaner energy future, and also effectively create jobs in the ever-growing electric vehicle industry
Sam Paschel, Zero Motorcycles, CEO.
The plug-in tax credits, including the 2-wheeled plug-in tax credit that was set to expire at the end of 2020 and the EV infrastructure credit for charging, both of which were extended as part of the final tax extenders legislation.
The bill that had originally passed on December 27, 2020 extends the EV tax credit from the beginning of 2021 until January 1, 2022. In the case of the 2-wheeled plug-in tax credit, this covers 10 percent of the purchase price, up to $2,500 maximum, which comes as a nice cash back for the riders. The tax-credit applies only to vehicles that can go over 45 mph, which is the moped class, so really all of the Zero line up.
All of the 2020 and 2021 Zero models qualify for the incentive, here is the entire line-up: SR/F, Zero SR/S, Zero S, Zero SR, Zero DS, Zero DSR, Zero Black Forest DSR, Zero FX, and Zero FXS models.
Read more details of tax credits in the U.S Department of Energy website.
This extension comes as further tailwind to Zero in the local US market , as the administration continues to steer towards green energy and zero emission. While many other manufacturers have emerged in the steaming market of electric motorcycles and mobility, Zero motorcycles are definitely a veteran and leader in the space. With their entire line of motorcycle offering, technological advantage (also from having miles on the road) and competitive prices, Zero are positioned to continue and deliver excellence in electric motorcycles.
Sources: Businesswire