Many electric vehicles to lose big tax credit with new rules
1 year, 8 months ago

Many electric vehicles to lose big tax credit with new rules

Associated Press  

WASHINGTON — Fewer new electric vehicles will qualify for a full $7,500 federal tax credit later this year, and many will get only half that, under rules proposed Friday by the U.S. Treasury Department. The new rules take effect April 18 and are aimed at reducing U.S. dependence on China and other countries for battery supply chains for electric vehicles. Biden administration officials concede that fewer electric vehicles will be eligible for tax credits in the short term because of the rules, which set standards for where EV battery parts and minerals come from. But Sen. Joe Manchin, the West Virginia Democrat who negotiated terms in the new law that require battery sourcing in North America, said the guidance released by the Treasury Department “completely ignores the intent of the Inflation Reduction Act.’' Manchin called it “horrific” that the Biden administration “continues to ignore the purpose of the law, which is to bring manufacturing back to America and ensure we have reliable and secure supply chains.’' Referring to the proposal’s 60-day comment period, Manchin said, “My comment is simple: Stop this now.

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History of this topic

Auto industry’s shift toward EVs is expected to go on despite Trump threat to kill tax credits
4 weeks ago

Auto industry’s shift toward EVs is expected to go on despite Trump threat to kill tax credits

Associated Press  

DETROIT — If President-elect Donald Trump makes good on his threat to kill federal tax credits for electric vehicle purchases, it’s likely that fewer buyers will choose EVs. Trump’s argument — one that most economists dispute — is that a rapid U.S. shift toward electric vehicles would lead to most EVs being made in China and would swell prices for …

Newsom says California could offer electric vehicle rebates if Trump eliminates federal tax credit
4 weeks, 1 day ago

Newsom says California could offer electric vehicle rebates if Trump eliminates federal tax credit

Associated Press  

SACRAMENTO, Calif. — California could offer rebates for electric vehicle purchases if the incoming Trump administration eliminates a federal tax credit for people who buy electric cars, Gov. Newsom, a Democrat, proposed creating a new version of the state’s Clean Vehicle Rebate Program, which was phased out in 2023 after funding 594,000 cars and saving 456 million gallons of fuel, …

The EV Buyer’s Guide to an Uncertain Future
1 month ago

The EV Buyer’s Guide to an Uncertain Future

Wired  

It’s a confusing time to be a prospective electric vehicle buyer. Power earlier this year that they’re “overall likely” to consider going electric; 24 percent said they were “very likely.” EVs are definitely better for the environment, they generally cost less to maintain and fuel, and drivers report they’re very fun behind the wheel. Reuters first reported that officials with …

The withering dream of a cheap American electric car
1 month, 1 week ago

The withering dream of a cheap American electric car

Live Mint  

The dream of a $25,000 electric vehicle for U.S. drivers is in trouble. Musk isn’t alone in taking a sour view of making a cheap EV for the U.S. “That market sucks,” Peter Rawlinson, chief executive of Lucid Motors, told me and my colleague Christopher Mims for our new podcast, called “Bold Names.” Lucid which has begun taking orders for …

Seven in ten electric vehicles will be stung with the additional £410-a-year 'luxury car' premium tax when VED exemption ends next year
4 months, 4 weeks ago

Seven in ten electric vehicles will be stung with the additional £410-a-year 'luxury car' premium tax when VED exemption ends next year

Daily Mail  

The end of electric vehicle car tax exemptions from next year could kill off demand for greener cars in Britain, a new report is warning. Auto Express said it will 'create further cost barriers' preventing the switch to battery cars In the Autumn Budget of 2022, former Chancellor Jeremy Hunt announced that electric cars will no longer be exempt from …

US loosens some electric vehicle battery rules, potentially making more EVs eligible for tax credits
7 months, 3 weeks ago

US loosens some electric vehicle battery rules, potentially making more EVs eligible for tax credits

Associated Press  

DETROIT — The U.S. government on Friday loosened some rules governing electric vehicle tax credits, potentially making more EVs eligible for credits of up to $7,500 but leading critics to accuse the Biden administration of helping China. West Virginia Sen. Joe Manchin, the Democratic chairman of the Senate Energy and Natural Resources Committee, said that through the new rule, the …

Research shows interest in electric car ownership is dwindling
8 months ago

Research shows interest in electric car ownership is dwindling

NL Times  

Research from Dutch travel association ANWB has shown that the interest in electric vehicles is dwindling. An electric car in 2022 cost 61 cents per kilometer; now it costs 72 cents per kilometer," ANWB said. The ANWB added that they receive many questions regarding motor vehicle tax for electric cars. Electric cars are heavy due to their battery packs, which …

For consumers shopping for an EV, new rules mean fewer models qualify for a tax credit
11 months, 2 weeks ago

For consumers shopping for an EV, new rules mean fewer models qualify for a tax credit

Associated Press  

DETROIT — U.S. consumers looking to get a tax credit on an electric vehicle purchase have fewer models to choose from under new rules that limit the countries where automakers can buy battery parts and minerals — a potential blow to efforts to reduce planet-warming emissions from autos. And leased EVs aren’t affected by the new rules because they’re considered …

'EVs are £700 a year cheaper to keep on the road than petrol cars', green think tank says
11 months, 2 weeks ago

'EVs are £700 a year cheaper to keep on the road than petrol cars', green think tank says

Daily Mail  

Owning an electric vehicle instead of a petrol car could save drivers around £10,000 over a decade and a half, according to a green think tank. Switching to electric could save owners up to £700 a year compared to driving a petrol car, a green think tank has estimated: Pictured, an electric Hyundai Ioniq5 While the upfront cost of new …

More electric vehicles lose tax credits due to battery sourcing rules in US
11 months, 3 weeks ago

More electric vehicles lose tax credits due to battery sourcing rules in US

Live Mint  

Many electric vehicles lost eligibility for tax credits of up to $7,500 after new battery sourcing rules took effect on Monday, including the Nissan Leaf, Tesla Cybertruck All-Wheel Drive and Chevrolet Blazer EV, the U.S. Treasury said. The Treasury said "automakers are adjusting their supply chains to ensure buyers continue to be eligible for the new clean vehicle credit, partnering …

Electric car models eligible for $7,500 tax credit cut to 13
11 months, 3 weeks ago

Electric car models eligible for $7,500 tax credit cut to 13

LA Times  

New rules from the Biden administration kicked in Jan. 1, reducing the number of electric vehicles eligible for a $7,500 tax credit. The number of electric vehicle models eligible for a consumer tax credit of as much as $7,500 fell sharply as new rules from the Biden administration kicked in on Jan. 1. The new rules exclude from the tax …

New US rules, aimed at curbing China, could make it harder for EV buyers to claim a full tax credit
1 year ago

New US rules, aimed at curbing China, could make it harder for EV buyers to claim a full tax credit

Associated Press  

WASHINGTON — Americans could have a harder time finding electric vehicles that qualify for a full $7,500 federal tax credit under new rules proposed Friday that are likely to hinder President Joe Biden’s goal that half of new passenger vehicles sold in the U.S. run on electricity by 2030. The White House hopes the new tax credit rules will encourage …

The easiest way to get a $7,500 tax credit for an electric vehicle? Consider leasing.
1 year, 6 months ago

The easiest way to get a $7,500 tax credit for an electric vehicle? Consider leasing.

Associated Press  

DETROIT — Thanks to a boost from the government, leasing — not buying — is becoming the most affordable way to get your hands on an electric vehicle. Last year’s Inflation Reduction Act provided a federal tax credit of up to $7,500 to use toward an EV. The Treasury Department says that in establishing the tax credit, Congress classified leased …

The Ford F-150 qualifies for an EV tax credit, but good luck getting it
1 year, 8 months ago

The Ford F-150 qualifies for an EV tax credit, but good luck getting it

LA Times  

The Ford F-150 Lightning, displayed at the Philadelphia Auto Show in January 2023, sells in four layers of opulence ranging from $60,000 to $98,100, but only the most stripped-down configurations will qualify for the tax credit. So it was a huge win on Tuesday when Ford’s F-150 Lightning became one of just 10 vehicles to qualify for the full $7,500 …

10 electric and plug-in hybrid cars that qualify for $7,500 tax cut
1 year, 8 months ago

10 electric and plug-in hybrid cars that qualify for $7,500 tax cut

Daily Mail  

It comes as the average cost of an electric vehicle fell slightly to $58,940 But a further seven can entitle buyers to $3,750, under new rules Only ten electric cars are eligible for the Government's $7,500 tax credits Motorists can claim up to $7,500 back in tax credits when they buy an electric vehicle thanks to a new scheme brought …

Editorial: Only a few EVs made the tax credit list. That’s bad news for the climate
1 year, 8 months ago

Editorial: Only a few EVs made the tax credit list. That’s bad news for the climate

LA Times  

President Biden drives a Ford F-150 Lightning truck in 2021. The vehicle is one of only nine fully electric models available today that qualify for the full $7,500 federal tax credit. Expanded electric car subsidies were supposed to be a centerpiece of President Biden’s signature climate law, accelerating emissions reductions by allowing buyers to claim generous tax credits and save …

See the EVs eligible for tax credits - and why most aren’t
1 year, 8 months ago

See the EVs eligible for tax credits - and why most aren’t

Associated Press  

DETROIT — Ten electric or plug-in hybrid vehicles will be eligible for a $7,500 U.S. tax credit, while another seven could get $3,750 under new federal rules that go into effect on Tuesday. The new rules, which govern how much battery minerals and parts can come from countries that don’t have free trade agreements with the U.S., bumped nine vehicles …

New US tax credit rules narrow the list of eligible EVs
1 year, 8 months ago

New US tax credit rules narrow the list of eligible EVs

Hindustan Times  

Ten electric or plug-in hybrid vehicles will be eligible for a $7,500 US tax credit, while another seven could get $3,750 under new federal rules that go into effect on Tuesday. Read here: Tesla slashes prices of Model 3, Model Y vehicles in Singapore But under the Treasury Department rules and other provisions of last year's Inflation Reduction Act, most …

These are the EV models that will get you the full $7,500 tax credit
1 year, 8 months ago

These are the EV models that will get you the full $7,500 tax credit

LA Times  

The Ford F-150 Lightning displayed at the Philadelphia Auto Show. The electric pickup truck is one of just 10 models of electric and plug-in hybrid models that will qualify for the full $7,500 tax credit under President Biden’s new EV rules. They are: Chrysler Pacifica Ford F-150 Lightning pickup Lincoln Aviator Grand Touring Cadillac Lyriq Tesla Model 3 Tesla Model …

Stiff EPA emission limits to boost US electric vehicle sales
1 year, 8 months ago

Stiff EPA emission limits to boost US electric vehicle sales

Associated Press  

WASHINGTON — The Biden administration is proposing stiff new automobile pollution limits that would require up to two-thirds of new vehicles sold in the U.S. to be electric by 2032, a nearly tenfold increase over current electric vehicle sales. A look at what the EPA is proposing, how the plan serves President Joe Biden’s ambitious goal to cut America’s planet-warming …

4 in 10 say next vehicle may be electric: AP-NORC/EPIC poll
1 year, 8 months ago

4 in 10 say next vehicle may be electric: AP-NORC/EPIC poll

Associated Press  

WASHINGTON — Many Americans aren’t yet sold on going electric for their next cars, a new poll shows, with high prices and too few charging stations the main deterrents. But only 19% of U.S. adults say it’s “very” or “extremely” likely they would purchase an electric vehicle the next time they buy a car, according to the poll, and 22% …

AP sources: EPA car rule to push huge increase in EV sales
1 year, 8 months ago

AP sources: EPA car rule to push huge increase in EV sales

Associated Press  

WASHINGTON — The Biden administration will propose strict new automobile pollution limits this week that would require at least 54% of new vehicles sold in the U.S. to be electric by 2030 and as many as two of every three by 2032, according to industry and environmental officials briefed on the plan. An executive order signed by Biden set a …

Treasury makes more electric SUVs eligible for tax credits
1 year, 10 months ago

Treasury makes more electric SUVs eligible for tax credits

Associated Press  

WASHINGTON — The Treasury Department said Friday it is making more electric vehicles — including SUVs made by Tesla, Ford and General Motors — eligible for tax credits of up to $7,500 under new vehicle classification definitions. The revised standards for EV tax credits follow lobbying by automakers that had pressed the Biden administration to change vehicle definitions to allow …

Tesla's price move in US and Europe. Aim: Drive up sales
1 year, 11 months ago

Tesla's price move in US and Europe. Aim: Drive up sales

Hindustan Times  

Tesla has slashed prices on its electric vehicles in the United States and Europe by as much as 20%, extending a strategy of aggressive discounting after missing Wall Street estimates for 2022 deliveries. Read here: Elon Musk's net worth down by $182 billion since November 2021, 'worst loss' in history The move, which prompted a 3.8% fall in Tesla's shares …

EXPLAINER: 2023 tax credits for EVs will boost their appeal
1 year, 11 months ago

EXPLAINER: 2023 tax credits for EVs will boost their appeal

Associated Press  

WASHINGTON — Starting Jan. 1, many Americans will qualify for a tax credit of up to $7,500 for buying an electric vehicle. For at least the first two months of 2023, though, a delay in some of Treasury’s rules will likely make the full credit temporarily available to consumers who meet certain income and price limits. However, the Treasury Department …

EXPLAINER: 2023 tax credits for EVs will boost their appeal
1 year, 11 months ago

EXPLAINER: 2023 tax credits for EVs will boost their appeal

Associated Press  

WASHINGTON — Starting Jan. 1, many Americans will qualify for a tax credit of up to $7,500 for buying an electric vehicle. For at least the first two months of 2023, though, a delay in the Treasury Department’s rules for the new benefit will likely make the full credit temporarily available to consumers who meet certain income and price limits. …

2023 tax credits for EVs will boost their appeal
1 year, 11 months ago

2023 tax credits for EVs will boost their appeal

LA Times  

A new tax credit, starting Jan. 1, is designed to spur sales of electric vehicles and reduce greenhouse emissions. For at least the first two months of 2023, though, a delay in the Treasury Department’s rules for the new benefit probably will make the full credit temporarily available to consumers who meet certain income and price limits. What’s known so …

Rule delay makes big EV tax credit possible early next year
2 years ago

Rule delay makes big EV tax credit possible early next year

Associated Press  

WASHINGTON — People who want to buy an electric vehicle could get a bigger-than-expected tax credit come Jan. 1 because of a delay by the Treasury Department in drawing up rules for the tax breaks. The law’s aim was in part to reduce U.S. reliance on batteries now predominantly made in China and move supply chains to the U.S. Fifty …

Rule delay makes big EV tax credit possible early next year
2 years ago

Rule delay makes big EV tax credit possible early next year

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. As a result, it appears that buyers of EVs …

Which EVs qualify for new US tax credit? Websites offer help
2 years, 4 months ago

Which EVs qualify for new US tax credit? Websites offer help

Associated Press  

WASHINGTON — As part of the rollout of a huge new climate, tax and healthcare law, the U.S. government is moving forward with its plan to award new tax credits to electric vehicle purchasers. “So a $7,500 difference is significant on one vehicle compared to another for the part of the market that this is aimed at.” Under the law, …

Most electric vehicles won’t qualify for federal tax credit
2 years, 4 months ago

Most electric vehicles won’t qualify for federal tax credit

Associated Press  

DETROIT — A tax credit of up to $7,500 could be used to defray the cost of an electric vehicle under the Inflation Reduction Act now moving toward final approval in Congress. That’s mainly because of the bill’s requirement that, to qualify for the credit, an electric vehicle must contain a battery built in North America with minerals mined or …

Senate deal should make it easier to buy electric vehicles
2 years, 4 months ago

Senate deal should make it easier to buy electric vehicles

Associated Press  

DETROIT — The surprise deal by Senate Democrats on a slimmed-down bill to support families, boost infrastructure and fight climate change also is likely to jump-start sales of electric vehicles. “The tax credits for electric vehicles in the bill will benefit consumers and cut costs for low- and middle-income families,” the Sierra Club said of the measure, which still must …

US electric-vehicle tax credits ending for new Toyota buyers
2 years, 8 months ago

US electric-vehicle tax credits ending for new Toyota buyers

Associated Press  

DETROIT — Toyota customers soon won’t be able to get U.S. federal tax credits for buying electric or hybrid vehicles. The automaker expects that sometime before the end of June it will reach a 200,000-vehicle cap on the credits, Bob Carter, Toyota’s head of North American sales, said Wednesday. Tesla, the top seller of electric vehicles in the world, and …

Harris unveils plan for electric vehicle charging network
3 years ago

Harris unveils plan for electric vehicle charging network

Associated Press  

WASHINGTON — The Biden administration released an ambitious federal strategy Monday to build 500,000 charging stations for electric vehicles across the country and bring down the cost of electric cars with the goal of transforming the U.S. auto industry. Just like filling up your car with gas.” The auto industry already is moving toward electric vehicles, Harris added: “We need …

Biden pushes electric vehicle chargers as energy costs spike
3 years, 1 month ago

Biden pushes electric vehicle chargers as energy costs spike

Associated Press  

DETROIT — President Joe Biden punched the accelerator on a battery-powered Hummer on Wednesday, causing the wheels to squeal and the truck to jet forward as he tried in his own way to drive the country toward an electric vehicle future. “We’re going to make sure that the jobs of the future end up here in Michigan, not halfway around …

Proposed US EV tax credit gets global pushback
3 years, 1 month ago

Proposed US EV tax credit gets global pushback

Al Jazeera  

Opponents say the US plan for a new $12,500 tax credit for US-built EVs is inconsistent with WTO commitments. The European Union, Germany, Canada, Japan, Mexico, France, South Korea, Italy and other countries have written to United States lawmakers saying a proposed US electric vehicle tax credit violates international trade rules, according to a joint letter. A group of 25 …

Toyota, Honda oppose U.S. House electric vehicle tax plan
3 years, 3 months ago

Toyota, Honda oppose U.S. House electric vehicle tax plan

The Hindu  

Toyota Motor Corp and Honda Motor Co on Saturday sharply criticised a proposal by Democrats in the U.S. House of Representatives to give union-made electric vehicles in the United States an additional $4,500 tax incentive. In a statement, Honda called the bill "unfair" and said it "discriminates among EVs made by hard-working American auto workers based simply on whether they …

US automakers pledge huge increase in electric vehicles
3 years, 4 months ago

US automakers pledge huge increase in electric vehicles

Associated Press  

WASHINGTON — Declaring the U.S. must “move fast” to win the world’s carmaking future, President Joe Biden on Thursday announced a commitment from the auto industry to produce electric vehicles for as much as half of U.S. sales by the end of the decade. Pointing to electric vehicles parked on the White House South Lawn, the president declared them a …

GM to boost spending on electric vehicles
3 years, 6 months ago

GM to boost spending on electric vehicles

The Hindu  

General Motors Co will boost global spending on electric and autonomous vehicles to $35 billion through 2025, a 30% jump over its most recent forecast as it pursues EV leadership, people briefed on the matter told Reuters. In addition, GM Chief Executive Mary Barra is scheduled to meet on Wednesday with U.S. House Speaker Nancy Pelosi and other key Democrats …

Biden aims to juice EV sales, but would his plan work?
3 years, 8 months ago

Biden aims to juice EV sales, but would his plan work?

Associated Press  

DETROIT — Dangling tax credits and rebates in his drive to fight climate change, President Joe Biden wants you to trade your gas-burning car, truck or SUV for a zero-emissions electric vehicle. Yet Biden’s goal is a daunting one: Even if Congress approves his $2.3 trillion infrastructure plan, along with its incentives, it would take many years to replace enough …

Driver taxes will put Australia even further behind in electric vehicle market, research finds
4 years ago

Driver taxes will put Australia even further behind in electric vehicle market, research finds

ABC  

Electric vehicle taxes, slated by the Victorian and South Australian state governments for 2021, will dramatically limit the uptake of electric vehicles in Australia, according to a new report from the University of Queensland. Only by offering significant incentives can Australia hope to get to a 100 per cent electric vehicle market in line with a net-zero emissions target by …

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