The verdict is in: the Volt will qualify for a $7,500 tax credit, as reported by Dave Kiley over at BusinessWeek. While $10K would have been better (the Li-Ion battery pack alone has been estimated to cost this much), $7,500 helps GM put generation one extended range hybrids into the hands of consumers.
This is a big deal, especially for people in upper-middle and higher income brackets. If it were simply a deduction, it would mean a lot less. For the difference between the two, read Kiplinger’s explanation here.
In other Volt news, I have a post going up on the GMnext blog soon about how so many journalists missed the big picture last Tuesday on the Volt’s coming out party.
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