Section 30D of the US Internal Revenue Code (“IRC”) provides business and individual taxpayers that purchase new qualified plug-in electric drive motor vehicles (“EVs”), including passenger vehicles and light trucks, with a nonrefundable tax credit. The credit amount varies depending on the battery size and the number of EVs sold by the manufacturer and is capped at $7,500 per vehicle. The credit phases out when the manufacturer has sold at least 200,000 qualifying vehicles (determined on a cumulative basis beginning December 31, 2009). To qualify, an EV must (1) weigh less than 14,000 pounds, (2) be propelled by an electric motor that uses a rechargeable battery, (3) be subject to and in compliance with applicable Clean Air Act Standards, (4) be acquired for use or lease and not for resale and (5) be used predominantly in the United States.