When automotive talk turns cheap, the most common vehicle that comes up is the Tata Nano, which currently holds the title as the Cheapest New Car in the World and is only available in India. So, Americans, how would you like to snag a brand-new electric car for the low, low price of just $865 right here in the United States? If you happen to live in Oklahoma, you can do just that... sort of.
Low Speed Vehicle Credit
Late last year, the Senate passed legislation that called for big tax credits for plug-in hybrid vehicles. As it was originally written, the credits were dependent on the size of the car's battery pack and ranged from $2,500 to $7,500 – the Chevy Volt is the only production car currently announced that would get the full credit – and only the first 250,000 PHEVs sold, regardless of manufacturer, would qualify.