Fuel Reduction using Electrons to End Dependence On the Mid-East (FREEDOM) Act of 2007 - Amends the Internal Revenue Code to allow tax credits for: (1) the purchase of a new qualified plug-in electric drive motor vehicle; (2) the conversion of a motor vehicle to a plug-in electric drive vehicle; and (3) rebates paid by electric utilities to purchasers of or converters to plug-in electric drive vehicles. Defines "new qualified plug-in electric drive motor vehicle" as a motor vehicle which: (1) is powered by traction batteries with an aggregate capacity of not less than 2.5 kilowatt hours; (2) uses an offboard source of electricity to recharge batteries; and (3) has a certificate of conformity under the Clean Air Act.
Allows a taxpayer election to expense 100% of the cost of facilities for manufacturing plug-in electric drive motor vehicles (and vehicle components) placed in service before January 1, 2013. Reduces such percentage to 50% for facilities placed in service after 2012, and before January 1, 2015.