Hi brettshipe, thanks for the event question.
Inflation Reduction Act of 2022 (IRA 2022) signed into law on 8/16/2022. Hence terms used here are “Pre-IRA 2022” and “Post-IRA 2022.”
It is my opinion that "substance over form" that you only purchased one EV during 2022 and eligible for claim EV credit once. I assume for the upgrade, you would receive a new delivery/title transfer between 8/16/22 to 12/31/22. During this time, the "Pre-IRA 2022" rules apply + one extra provision of final assembly in North America.
If all conditions are met, there is no difference in EV credit if delivery was in May 2022 (do not need to be assembled in North America) or October 2022 (need to be assembled in North America).
Please look at page 2 of below link, under the column of "Pre-IRA 2022" under the label of "Plug-in EV credit": the highlights are -
*Max amount could be $7,500 non-refundable credit;
*Phaseout after 200,000 plug-in EVs manufactured and sole
Clean Vehicle Tax Credits in the Inflation Reduction Act of 2022
https://crsreports.congress.gov/product/pdf/IN/IN11996
Please see below for Index for Manufacturers published by the IRS
https://www.irs.gov/businesses/irc-30d-new-qualified-plug-in-electric-drive-motor-vehicle-credit
Thank you and hope the above helps.
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
