IRS Ticks Off Tesla, Pleases Hyundai With EV Tax Credits (1)

The US government has angered Tesla Inc.’s Elon Musk and handed welcome news to other automakers like Hyundai Motor Co. with guidance on which electric vehicles will qualify for tax credits in the coming months.

The changes make a new crop of vehicles eligible for credits, including used EVs for the first time. But a large number of cars no longer qualify, and some that seemed like shoo-ins, like the most popular version of Tesla’s Model Y, are currently left out in the cold.

The new guidelines from the Treasury Department and Internal Revenue Service are still in flux. ...