VW, Rivian, Nissan, BMW lose access to US EV tax credits

ID.4 as well as the plug-in hybrid electric Audi Q5 TFSI e Quattro and plug-in hybrid electric Volvo S60. The Swedish carmaker is 82%-owned by China’s Zhejiang Geely Holding Group .

The rules are aimed at weaning the United States off dependence on China for EV battery supply chains and are part of President Joe Biden's effort to make 50% of U.S. new vehicle sales by 2030 EVs or PHEVs.said in a statement it was committed to its long-range EV plans and that it "will utilize key provisions in the Inflation Reduction Act to accelerate the transition to electrification.

VW said it was "fairly optimistic" the ID.4 SUV will qualify for the tax credit. "We are awaiting the proper documentation from a supplier to determine its eligibility for the credit," the German automaker said.Treasury also disclosed General Motors CoGM said earlier it expected at least some of its EVs would qualify for the $7,500 tax credit under the new rules, including the 2023 Cadillac Lyriq and forthcoming Chevrolet Equinox EV SUV and Blazer EV SUV.

Can we address the people who signed the binding agreement with Rivian prior to august 16 and haven’t received their vehicle? The IRS is very contradictory in their guidance on this for people who signed. I’m two weeks from delivery and Rivian is silent

My next car will be from one of these companies.

At present, there are two or three cars at most to enjoy the discount

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VW, Rivian, Nissan, BMW lose access to U.S. EV tax creditsThe U.S. Treasury said Monday that Volkswagen, BMW, Nissan, Rivian, Hyundai and Volvo electric vehicles will lose access to a $7,500 tax credit under new battery sourcing rules. So even the closest allies can't get a slice of your pie? 😂😂 And I'll never know why. 🙄 elonmusk So, the questions of cost and quality of batteries made else where come into the equation, If additional cost of a domestic battery exceed the credit than it better not to have the credit. Also the quality, (much harder to rate) cost/mile.
Source: Reuters - 🏆 2. / 97 Read more »

VW, Rivian, Nissan, BMW, Genesis, Audi and Volvo lose EV tax credits starting tomorrowThe U.S. Treasury said Monday that Volkswagen, BMW, Nissan, Rivian, Hyundai and Volvo electric vehicles will lose access to a $7,500 tax credit under new battery sourcing rules. So BMW i4 is still available for the full 7500 right? I guess Ford, GM, Tesla, and the other no name manufacturers are the only ones that are left. Equinox and Blazer should also lose the credit, they both can be produced in the US but made in Mexico
Source: therealautoblog - 🏆 528. / 51 Read more »