On Friday, the Treasury Department updated the way it classifies vehicles that qualify for its $7,500 EV tax credit as part of the Inflation Reduction Act (IRA). The change should allow more vehicles — including the Model Y — to qualify for the credit, as it no longer puts certain SUV crossovers in the same category as sedans.
Previously, some models of the Model Y, alongside the Cadillac Lyriq, weren’t eligible for the EV tax credit because their sticker prices exceeded the maximum…
