This incentive is great news for folks who do not qualify for the $7,500 EV federal tax credit because they exceed the income cap ($150,000 for individuals or $300,000 for married couples) — or those who do not have enough tax liability to take full advantage of the tax credit, such as retirees.
Moreover, the $7,500 lease incentive applies to several models that do not otherwise meet the North American assembly requirement, or MSRP cap ($55,000 for a passenger car or $80,000 for a truck, SUV, or van), of the new EV federal tax credit.
For example, VW Credit is offering the $7,500 lease incentive on the 2022 Volkswagen ID.4, despite it being assembled in Germany and not qualifying for the $7,500 federal tax credit. (The 2023 ID.4 is built in the USA and does currently qualify for the $7,500 federal tax credit.)