The Zhitong Finance App learned that according to stricter rules that came into effect on January 1, Tesla (TSLA.US) Cybertruck is eligible for US tax credits of up to 7,500 US dollars for the first time this year. The rules also disqualify other electric vehicles from federal subsidies.

The US Energy and Environmental Protection Agency said that currently only 18 electric vehicles and plug-in hybrids are eligible for subsidies, down from 22 last year. As part of the “Inflation Reduction Act” signed by US President Joe Biden, this credit reclassification tightens local procurement requirements for battery components and manufacturing raw materials.

As overall demand for electric vehicles weakens and US President-elect Donald Trump, who is threatening to end the federal subsidy program, prepares to take office later this month, the number of eligible electric vehicles has declined.

According to information, Tesla was violently sold off in 2024 due to a slowdown in demand for electric vehicles, but as Trump, strongly supported by Tesla CEO Elon Musk, won the US presidential election, Tesla's stock price rose sharply. The market is betting Tesla will benefit greatly from Musk's relationship with Trump.

The market generally believes that the Trump administration may reduce tax benefits for electric vehicles, and Tesla is expected to gain a larger market share in an unsubsidized environment with its size advantage. At the same time, Trump's tariff policy may further boost Tesla's competitiveness in the US market because Tesla has a relatively complete supply chain in the US.

In addition to Tesla's four models (including the Cybertruck), nine other brands of electric vehicles are also eligible, including Hyundai's Ioniq 5 and Ioniq 9, and sister brand Kia's EV6 and EV9.

New car buyers also face income and vehicle price restrictions, which may affect their eligibility for subsidies.

According to the US government's latest list, Volkswagen's ID.4 crossover lost the full tax credit of $7,500. Some electric cars and plug-in hybrids made by Ford, Nissan, Rivian Automotive, Stellantis, and Volkswagen previously received up to $3,750 in tax credits, but are no longer eligible.

As news broke that Cybertruck was eligible for a tax credit, the model made headlines due to an explosion outside the Trump Hotel in Las Vegas on Wednesday, and the incident is being investigated as a potential terrorist act.

Furthermore, according to the data, Tesla delivered 495,570 vehicles in the fourth quarter, and analysts expect to deliver 512,277 vehicles, breaking the record high of 484,507 vehicles in the same period last year. In the fourth quarter, 471,930 Model 3/Model Y vehicles were delivered, and analysts expect 484,575 vehicles to be delivered. According to CNBC estimates, throughout 2024, Tesla has cumulatively delivered/sold about 1.79 million vehicles, compared to 1.8 million vehicles in the previous year.

Tesla's stock price fell 6% on Thursday due to fourth quarter deliveries falling short of expectations.