Remove America Remove Buy Remove Dealers Remove Tax Credit
article thumbnail

The EV Tax Credit: Buy Now or Wait Until 2024?

EV Life

The Treasury Department just released new guidance that will enable consumers to use their $7500 EV tax credits more like an upfront rebate starting in January 2024. However, new vehicle requirements are also taking effect that raise questions about which vehicles will still qualify for tax credits in the new year.

article thumbnail

Fisker scraps direct sales and turns to auto dealers for sales

Teslarati

We decided we would rather give that money to a dealer so that we could expand faster,” said Henrik Fisker, the CEO, President, and Chairman of the EV startup. The company also shared its intention to expand retail operations in North America and Europe. But they could share service and back-office functions with other brands.

Fisker 107
article thumbnail

What EV Drivers Should Know About Leasing an EV This Year

Blink Charging

Although the $7,500 consumer tax credit for buying an electric car is becoming more restrictive for new vehicles adhering to specific manufacturing requirements , there’s a provision enabling consumers to still enjoy the credit when leasing an EV assembled outside of North America.

article thumbnail

Lease Buyout Offers Loophole to EV Incentive Restrictions

EV Life

The most significant incentive, outlined in the Inflation Reduction Act of 2022 , comes in the form of a $7,500 tax credit for eligible drivers and vehicles. As with most government incentive programs, there are a lot of rules and restrictions regarding who qualifies for the credit. However, there’s a catch.

article thumbnail

Hyundai fast-tracks start of EV production in the US as it gains recognition with its own day

Baua Electric

Hyundai announced its fast-tracking production at its Hyundai Motor Group Metaplant America (HMGMA) in Georgia. Hyundai initially planned to begin production early next year, but the automaker is plowing ahead with the $7,500 federal tax credit on the line. It even tops Rivian’s $5 billion EV factory outside of Atlanta.

Hyundai 52
article thumbnail

Kia EV9 wins, Fisker franchises, Tesla tops BYD, leather in EVs: The Week in Reverse

Baua Electric

Which EVs made the tax-credit shortlist in 2024? The Kia EV9 is Green Car Reports’ Best Car To Buy 2024. 2024 Rivian R1S A preliminary list of 2024 EVs qualifying for the tax credit was released early this week by the EPA, and as expected there are very few models qualified for the full $7,500 amount.

Fisker 52
article thumbnail

Volkswagen of America to invest $10M in EV charging infrastructure by 2016; calls for more legislative support to spur EV adoption

Green Car Congress

Volkswagen of America will invest $10 million by 2016 to support the build-out of electric vehicle charging infrastructure in the US, said Jörg Sommer, vice president, product marketing and strategy. Volkswagen will also invest to support installation of charging stations in certain dealer locations. Earlier post.)

America 150