Late last week, the feds extended a tax credit for two- and three-wheeled vehicles, making six models under the Zero brands eligible. Specifically, plug-in bikes and trikes get a tax credit worth 10 percent of the vehicle's purchase price, up to a max of $2,500. Electric-vehicle charging stations also apply. Congress made a last-minute extension to the bill late last week, after which it was signed into law by President Barack Obama.
Plug-In America was among the entities that joined Zero Motorcycles in lobbying for the extension, which is retroactive for all vehicles bought this year and extends to at least the end of 2016. The original federal tax credit for electric bikes and trikes expired at the end of 2013, so the government's certainly doing its part to continue to push people towards zero-emissions bikes.
In October, Zero Motorcycles unveiled a bunch of 2016 model-year goodies at Florida's AIMExpo. Many models got a longer single-charge range, and a couple of them saw $1,000 price cuts. A Level 2 charging option was also added, and the bikes all get motors providing quicker acceleration. Happy New Year, indeed. Take a look at Zero Motorcycles' press release on the federal tax-credit extension below.
Electric Motorcycles Again Eligible for 10% Federal Tax Credit
SANTA CRUZ, Calif., Dec. 18, 2015 /PRNewswire/ -- Zero Motorcycles, the global leader in the electric motorcycle industry, today announced that the company's complete 2016 model line of electric motorcycles will again be eligible for a 10 percent federal tax credit for plug-in vehicles. The tax credit was included in the "last minute" tax extenders bill approved by Congress on Friday and signed into law by President Obama that afternoon.
Zero Motorcycles took the lead in working with Plug-In America and a coalition of other electric motorcycle companies to ensure the plug-in tax credit would be extended and include electric motorcycles. Standing together with companies coast-to-coast, the coalition rallied Congress to take action and expand green jobs in this exciting and emerging industry. Zero Motorcycles dealers, customers and fans weighed in as well, urging Congress to support the extension of the plug-in tax credits.
"Tax credits for electric motorcycles are not only an effective way to create jobs, they are also an investment in clean energy technology. We think that America can and should lead the world in electric motorcycle technology," said Richard Walker, CEO of Zero Motorcycles. "The electric motorcycle industry is rapidly responding to our country's need for affordable and environmentally responsible transportation. We're naturally excited to combine our passion for motorcycles with something that benefits everyone."
After many months of consistent work with Congress, two major plug-in tax credits, including the 2-3 wheeled plug-in tax credit which had expired at the end of 2013, were extended as part of the final tax extenders legislation signed by President Obama. The signed bill includes the following provisions:
Extends the EV infrastructure tax credit from the beginning of 2015 until the end of 2016.
In the case of the 2-3 wheeled plug-in tax credit, this covers 10 percent of the purchase price, up to $2,500 maximum, and applies only to vehicles capable of over 45 mph and with a 4 kilowatt-hour or larger battery pack. The 2016 Zero S, Zero SR, Zero DS, Zero DSR, Zero FX and Zero FXS all qualify for the incentive.
These tax credits are retroactive and apply to electric motorcycles and EV chargers purchased in 2015. All new Zero models purchased in 2015 or 2016 are eligible for the tax credits.
Consumers are encouraged to speak with an authorized Zero Dealer to obtain more information about this federal tax credit.
About Zero Motorcycles
Zero Motorcycles is committed to transforming the motorcycling experience by bringing to market highly innovative electric motorcycles that offer exceptional value and performance. Zero is powered by innovation, driven by passion, guided by integrity and measured by results. Through extensive research, insight and experience, Zero combines the art and science of motorcycle development to create and manufacture products that excite consumers and inspire brand loyalty. Every model is designed and built in California. Zero is determined to be the preeminent global electric motorcycle company.
Become a fan of Zero Motorcycles on Facebook, follow Zero Motorcycles on Twitter @ZeroMC and Instagram @ZeroMotorcycles, and check out what Zero is doing on YouTube at www.youtube.com/zeromotorcycles.