New Mexico EV Incentives 2025
Complete guide to New Mexico electric vehicle rebates, tax credits, charger incentives, and how to stack them with the $7,500 federal EV credit.
Federal Credit
$7,500
§30D New EV (income-limited)
New Mexico Max Incentives
$8,000
2 programs available
Combined Potential
$15,500
Federal + New Mexico stacked
New Mexico Vehicle Purchase Incentives
Tax Credit
up to $4,000
New Mexico EV Tax Credit
State income tax credit for new EV purchase.
Eligibility:NM resident. New BEV or PHEV.
Income limit:$150,000 joint
MSRP cap:$45,000
Vehicle types:BEV, PHEV
Tax Credit
up to $4,000
New Mexico EV Tax Credit
State income tax credit for new EV purchase.
Eligibility:NM resident. New BEV or PHEV.
Income limit:$150,000 joint
MSRP cap:$45,000
Vehicle types:BEV, PHEV
Federal §30D New Clean Vehicle Credit
Stackable with all New Mexico incentives above. Up to $7,500 for qualifying new EVs.
Income limit (single): $150,000 AGI
Income limit (joint): $300,000 AGI
Car MSRP cap: $55,000
SUV/truck MSRP cap: $80,000
Popular EVs in New Mexico
Calculate Your New Mexico EV Savings
Use our Total Cost of Ownership calculator to see exactly how much you'll save after federal + New Mexico incentives vs. your current gas car.