The Truth About Cars
APRIL 16, 2024
In fact, Kia’s CEO said the company was pushing forward with plans to release an affordable electric car called the EV3. The new model will join several hybrids also in development, along with at least on South Korea-only model expected to debut at the same time as the EV3.
Baua Electric
MAY 3, 2024
In a coordinated push through federal agencies, the Biden administration on Friday released a revised set of regulations applying to the EV tax credit that will ultimately make the credit easier to claim for a wider range of vehicles in 2025 and 2026 but no easier for Chinese companies to gain a foothold on the market.
EV Adoption
NOVEMBER 26, 2021
For electric vehicles, the BBBA includes multiple proposed changes to IRC 30D, more commonly knows as the federal EV tax credit. Perhaps the mostly likely is the requirement for EVs to be assembled in the US in a union factory to qualify for an additional $4,500 tax credit. Tax Credit Becomes Refundable. More on this below.
The Truth About Cars
AUGUST 23, 2023
Mitsubishi recently announced that it would discontinue the Mirage, removing one of America’s few remaining affordable new cars. Kia currently builds the EV6 in South Korea and needs a North American manufacturing location for its vehicles to qualify for federal tax credits. Average vehicle purchase prices in the U.S.
EV Adoption
AUGUST 4, 2022
Additionally, the IRA could actually receive enough votes to pass, but not without potentially several significant changes — including to some of the EV tax credit requirements. That is a very good thing, but tying this requirement to a consumer-facing tax credit that results in few or zero EVs qualifying, is probably not the best approach.
The Truth About Cars
MARCH 7, 2024
InsideEVs reported that X/Twitter users have been sharing screenshots of leaked documents from South Korea that appear to show a new Model 3 variant with a possible 412-horsepower rear motor. At the same time, the new car lost tax credit eligibility and its place as a compelling, affordable EV as a result.
Teslarati
NOVEMBER 9, 2022
A bill has been introduced in the Senate called the “Affordable Electric Vehicles for America Act” that would dramatically alter the Inflation Reduction Act’s EV incentives requirements. Most notably, leaders from France, Germany, the EU , South Korea, and Japan have called for the U.S. However, Senate bill S.
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