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New bipartisan bill in US Congress to expand EV and hydrogen fuel cell tax credits

Green Car Congress

US Senators Debbie Stabenow (D-MI), Lamar Alexander (R-TN), Gary Peters (D-MI), and Susan Collins (R-ME) along with Congressman Dan Kildee (MI-05) introduced the Driving America Forward Act, bipartisan legislation to expand the electric vehicle and hydrogen fuel cell tax credits. ITC Holdings Corp.,

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Motor vehicle taxation brings in €440.4B for governments in major European markets

Green Car Congress

New data shows that motor vehicles generate more than €440 billion in taxation per year for national governments in the major EU markets plus the UK, the European Automobile Manufacturers’ Association (ACEA) reports. This just goes to show the sheer scale of the importance of the automobile industry to Europe.

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EV tax credit score rules will have to be adopted, Manchin tells Treasury

Baua Electric

“My comment is simple: Follow the law,” he wrote in an 11-page letter to Treasury, explaining that the tax credit score’s objective is “no longer to promote the purchase and use of [EVs] … but to promote reliable domestic supply chains for the critical minerals and battery components” had to energy them.

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SAFE Report: electricity shortfalls impede IRA’s materials production goals

Green Car Congress

These new laws will cumulatively increase demand for aluminum in significant ways: The IRA incentivizes more production of solar, batteries, and electric vehicles, the latter requiring hundreds of pounds more aluminum (per automobile) compared to traditional internal combustion engine vehicles.

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EIA: US average gasoline prices before Memorial Day highest since 2014

Green Car Congress

The American Automobile Association (AAA) expects more than 37 million people to take trips this Memorial Day weekend, traveling 50 miles or more from home between 27-31 May. The average retail price for regular gasoline in the United States on 24 May, the Monday before the Memorial Day weekend, was $3.02 gal higher than a year ago.

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Fusion Fuel and Electus Energy to develop 75 MW green hydrogen project in Bakersfield, California; Fusion Fuel’s first US project

Green Car Congress

Due to the unique combination of solar irradiance, California tax incentives, and proximity to large-scale offtake, Bakersfield is the ideal project to anchor our North American strategy. Fusion Fuel has engaged Black & Veatch to perform a concept study and is also working with Cornerstone Engineering and Headwaters Solutions.

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Japan to Provide Tax Breaks for Hybrid, Electric Cars

Green Car Congress

Under provisions of a fiscal 2009 tax reform bill, Japan will waive an automobile weight tax for people buying hybrid cars and electric vehicles. Normally, people purchasing new cars pay the automobile acquisition tax, which is equivalent to roughly 5% of the car’s price, and three years’ worth of the weight tax.

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