First Electric SUV from Honda is Eligible for the Full EV Tax Credit

First Electric SUV from Honda is Eligible for the Full EV Tax Credit

The majority of buyers of Honda’s inaugural electric SUV will be eligible for the entire $7,500 federal EV tax credit.

The carmaker stated in a press release on Thursday that “the federal tax credit applies to the purchase of all 2024 prologues built after Feb. 26, 2024.” “All 2024 Prologues will qualify when leased.”

According to Honda, the tax credit can reduce the starting price of the Prologue to as low as $39,900 without accounting for delivery and handling. The lowest price, including delivery and handling, is $41,295.

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The announcement on the Prologue qualifying occurs approximately six weeks after the manufacturer stated that the electric vehicle’s market debut was scheduled for March.

The Prologue is a midsize SUV from Honda that is characterized as “spacious, adventure-ready” and capable of almost 300 kilometers on a full charge.

The three trim levels are EX, Touring, and Elite. According to Honda, the Elite can only have all-wheel drive, although the EX and Touring can have two-wheel and all-wheel drive options.

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Honda Motor Company Ltd.

The carmaker initially disclosed that the Prologue would be produced in the summer of 2021. Through a collaboration with General Motors, it is dependent on a “very adaptable worldwide EV platform powered by Ultium batteries,” according to the statement.

Honda wants to sell only electric vehicles in North America, so the Prologue’s release will aid in that transition. According to the carmaker, it hopes to reach that goal by 2040.

Sanchita Patil

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