Tesla Semi will be a diesel truck killer with a proposed new US EV tax credit. In addition, owning a Tesla Semi has a long list of benefits and it will become a disruption in the truck market.
On Thursday it became known about the new Inflation Reduction Act of 2022, drafted by Senator Joe Manchin of West Virginia and Senate Majority Leader Chuck Schumer. This climate, tax, and health legislation is due to the Senate next week. In addition to including a $7,500 electric vehicle tax credit, the legislation has been revealed to include a credit for heavy commercial vehicles. So if it passes, the upcoming Tesla Semi will be a lot cheaper to buy, making a real difference.
The initial cost of a Tesla Semi with a range of 300 miles was about $150,000. However, it is logical to assume that its cost will be higher since, over time, the cost of its production has increased significantly. Obviously, its initial cost will be higher than for class 8 diesel trucks, but perhaps something will appear that equalizes their position in cost.
The new Inflation Reduction Act of 2022 provides for a tax credit for heavy commercial vehicles. Trucks over 14,000 pounds will be eligible for a tax credit of $40,000 or 30 percent of the total cost of the vehicle. If the legislation is passed without any changes, the buyer will be able to take advantage of the lesser of the two options. In any case, this may be one of the main motivators to switch to an electric truck as soon as possible.
In addition, the cost of owning an electric truck will be drastically less than owning a diesel truck, while companies can confidently move towards their goals of reducing their carbon footprint.
© 2022, Eva Fox | Tesmanian. All rights reserved.
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About the Author
Eva Fox joined Tesmanian in 2019 to cover breaking news as an automotive journalist. The main topics that she covers are clean energy and electric vehicles. As a journalist, Eva is specialized in Tesla and topics related to the work and development of the company.