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Senate Finance Committee Approves $12,500 EV Tax Credit Bill

The Truth About Cars

Changes include raising the federal EV tax rebate ceiling to $12,500 and opening the door for automakers who already exhausted their production quotas. The post Senate Finance Committee Approves $12,500 EV Tax Credit Bill appeared first on The Truth About Cars.

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Which EVs Still Qualify for Federal Tax Credits?

The Truth About Cars

With the guidance having come in on the United States’ updated EV tax credit scheme, outlined in the so-called Inflation Reduction Act, we now have a pretty good idea of which electric vehicles still qualify. But it’s kind of a clunky interface so we’re just going to list them here for you.

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BMW is Willing to Pay to Attract Customers from Other EV Brands

The Truth About Cars

While not currently eligible for federal tax credits, BMW’s EVs can be leased to receive the $7,500 discount others get. Kia recently announced $5,000 off the brand-new EV9, and General Motors has discounted some of its models that lost federal tax credit eligibility. Image: BMW] Become a& TTAC& insider.

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EV Charging Networks Aren't Making Money

The Truth About Cars

This is seen as especially advantageous considering the present volatility of the economy. It raises their profile and provides an opportunity to retain customers for a little longer as their EV takes on energy in the parking lot. But the deal does not appear to be so sweet for the companies that operate and maintain these networks.

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Electric Vehicle Adoption Divide Mapped

The Truth About Cars

Power ranked for EV adoption overlap with states that had the most policies for scaling deployment of EVs and building charging infrastructure, according to a July scorecard by the American Council for an Energy-Efficient Economy. Those states are California, Colorado, Massachusetts, Washington, Oregon and Maryland.

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No Hybrid Ford Explorer or Lincoln Aviator for the 2024 Model Year

The Truth About Cars

It seems plausible that retail customers were looking at the fuel economy advantages offered by the hybrid and decided it wasn’t worth the extra money. From Car and Driver : Notably, the Aviator Grand Touring was one of the few plug-in-hybrid models eligible for the full $7500 tax credit as part of the new Inflation Reduction Act (IRA) rules.

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Proposed California Bill SB-233 Mandates Bidirectional Charging for EVs to Advance Grid and Climate Protection

Driivz

Rebates and tax credits to offset the up-front costs of buying and installing bidirectional charging equipment are also key. For individual EV owners, time-of-use pricing is an effective money-saving incentive for shifting grid consumption to off-peak hours.