
The Ioniq 5 is once more qualified for the $7,500 tax credit.
2025 Hyundai Ioniq 5
Hyundai
Following a brief and confusing hiatus, the Hyundai Ioniq 5 is now once again eligible for the full $7,500 federal tax credit—and this time, it seems to be here to stay (at least for the moment). So, what led to this change? Let’s break it down.
The Ioniq 5, an elegant and technologically advanced electric crossover, initially gained attention not only for its design but also for being manufactured at Hyundai’s newly established Metaplant in Georgia. This domestic production qualified it for the EV tax credit under the Inflation Reduction Act (IRA), which mandates that vehicles be assembled in North America with batteries sourced from countries with favorable trade agreements. However, at the start of 2025, the Ioniq 5 disappeared from the eligibility list. Why? This was likely due to its battery packs, which were still being sourced from SK On's facility in Hungary.
During this interim period, the only method to access the $7,500 incentive was through leasing the vehicle—thanks to a legal loophole that categorizes leased EVs as “commercial vehicles,” thus bypassing the stringent sourcing requirements. Hyundai even provided a $7,500 discount for those purchasing or financing the vehicle outright to cushion the impact.
As of late April 2025, the Ioniq 5 has officially returned to the EPA’s eligibility list, attributed to Hyundai redirecting its battery sourcing to SK On’s factory in Georgia. This change allows buyers to receive the tax credit upfront at the time of purchase—no leasing necessary.
Just ensure you qualify: Your adjusted gross income must not exceed $300,000 (for joint filers), $225,000 (for heads of household), or $150,000 (for individuals). Moreover, the vehicle’s MSRP must be below $80,000—which is not an issue since the Ioniq 5 is priced between $44,075 and $56,975.
So, if you’ve been considering the Ioniq 5, now is an excellent time to charge up.
Nick Godt has been covering global business news across three continents for over 25 years.
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The Ioniq 5 is once more qualified for the $7,500 tax credit.
The Hyundai Ioniq 5 is again qualified for the complete federal tax credit of $7,500.