- The U.S. Treasury Department today announced new vehicle classifications that will allow more vehicles to qualify as SUVs and get the newly updated EV tax credits. - The new rules consider the Cadillac Lyriq, the Ford Mustang Mach-E, the Tesla Model Y, and others to be SUVs and thus eligible under a higher $80,000 MSRP limit. - The rules change is retroactive, so anyone who bought a vehicle since January 1, 2023, that now qualifies can claim the credit.