While federal lawmakers work to pass a bill to incentivize the electrification of transportation via tax credits, there is a large potential credit coming for companies working to make electric semi trucks, such as Tesla Inc’s (NASDAQ:TSLA) all-electric semi truck.
As shared by Electrek, the Inflation Reduction Act of 2022 will include an up to $40,000 credit to help in the production and deployment of electric semi trucks. The section for commercial clean vehicles could apply to electric trucks.
The legislation offers up to $40,000 in incentives for commercial clean vehicles over 14,000 lbs. This could include Tesla’s all electric semi, as well as Nikola Corp’s (NASDAQ:NKLA) hydrogen fuel cell powered semi truck.
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The base price of the 500-mile range Tesla semi is currently listed on Tesla’s website at $180,000. This incentive would bring the price down to $140,000, and truckers would also look forward to massive fuel savings over the life of the vehicle. For comparison, truckertotrucker.com has diesel powered vehicles listed at prices ranging from $80,000 up to $169,940. The first Tesla Semis are expected later this year, with the first customer being Frito-Lay.
Photo courtesy of Tesla
