Want a $180,000 electric car? Texas taxpayers may help you pay for it

The state of Texas is offering residents rebates if they buy electric vehicles made by Bentley, BMW, Porsche and Mercedes Benz that cost as much as $180,000.

Texas released the list of electric vehicles eligible for the Light-Duty Motor Vehicle Purchase or Lease Program this month. The program offers rebates up to $2,500 for the purchase or lease of specific electric vehicles.

The list of eligible electric vehicles includes 142 different models from nearly every major car maker, including the lowest priced electric vehicle for sale in the United States. It also includes 22 BMW models, 17 offerings from Porsche, 15 from Audi, 14 from Ford, six from Mercedes Benz and two from Bentley, among others. The list includes three models from Nissan, including some Nissan Leaf models. The vehicle models on the list range from 2017 to 2022.

Many states offer similar rebates. These programs are under scrutiny because market research shows that it is mostly affluent people who buy electric vehicles.

Recent studies state those likely to buy an electric vehicle already own one and have an annual median household income of $95,000. BlastPoint, a data analytics company in Pennsylvania, reported that its research found about 25% of likely buyers of electric vehicles have an annual household income above $150,000 a year.

One of the most expensive vehicles eligible for the rebate in Texas is the 2021 Bentley Bentayga, a plug-in hybrid. The sticker price for that vehicle is $183,225, according to Kelley Blue Book. The projected car payment for a $183,000 vehicle for someone with great credit, a $10,000 down payment and a 48-month loan is $3,875 per month, according to Driveway.com.

The state has awarded 1,058 rebates worth $2.57 million in taxpayer money for hydrogen or electric cars in 2021. The state law puts a cap of 2,000 rebates.