The Hyundai Ioniq 5 has reclaimed its $7,500 federal electric vehicle (EV) tax credit. The 2025 model, manufactured at the Georgia plant, had been off the eligibility list for four months. On May 1, the U.S. Environmental Protection Agency (EPA) updated its roster, reinstating the popular EV.
Electrek reported that the reinstatement of the tax credit benefits both cash buyers and those financing their purchase. However, there are income restrictions: couples must jointly earn less than 300,000 USD, heads of households under 225,000 USD, and individuals below 150,000 USD. With the credit, consumers can now drive home a 2025 Ioniq 5 for between 36,575 USD and 49,475 USD.
To mark this milestone, Hyundai has entered its high-performance 601-horsepower Ioniq 5 N in the One Lap of America competition. This eight-day endurance race, featuring 17 events, tests vehicle performance and durability. With 86 teams vying for victory, Hyundai aims to solidify its position as a formidable contender in the EV market this year.
