GM announced this week that the Cadillac Lyriq will once again qualify for the Federal $7,500 tax credit after the company changed battery suppliers for two components in the all-electric SUV to help it once again fall into the criteria for that aforementioned tax credit.
New Supplier Helps Lyriq Buyers Cash In On Credit
The Lyriq’s recent troubles began after the U.S. Treasury passed revised battery sourcing rules on January 1st which changed the qualification requirements for the credit. These changes knocked half of available EVs for sale off the list and among those hit was the Lyriq.
GM had been offering matching discounts to help make up for the loss of the credit but the company decided to take action by changing battery suppliers for two components in the battery itself. These changes were sufficient for the government and the Lyriq once again qualifies for the tax credit. The reintroduction of the tax credit comes at a crucial time for GM as the company is trying to shift its EV revolution into high gear with the Lyriq selling 9,154 units during 2023. GM would undoubtedly like to see those figures increase and the introduction of the tax credit would play a big role in doing just that.
Are Other GM Models Affected?
In addition to the Lyriq, several other models were affected by the old battery supplier including the Chevrolet Blazer EV. The Blazer EV’s woes are also compounded by a stop-sale order that GM was forced to do after widespread reports of software and reliability issues from buyers and select media outlets.
When the Blazer is ready for sale again, it will also benefit from the change in suppliers along with other EV models like the Chevrolet Equinox EV, Silverado EV, GMC Sierra EV, and the Cadillac Optiq.
Carl Malek has been an automotive journalist for over 10 years. First starting out as a freelance photographer before making the transition to writing during college, his work has appeared on numerous automotive forums as well as websites such as Autoshopper.com.
Carl is also a big fan of British vehicles with the bulk of his devotion going to the Morgan Motor Company as well as offerings from Lotus, MG, and Caterham. When he is not writing about automobiles, Carl enjoys spending time with his family and friends in the Metro Detroit area, as well as spending time with his adorable pets.