article thumbnail

Biden Administration mulls over reprieve from EV tax credits for automakers

Teslarati

The reprieve would concern the eligibility of electric vehicles for the IRA’s tax incentives. One of the biggest concerns about the IRA’s requirements for EV tax credit eligibly regards battery packs, cells, and the materials used to manufacture them. We are going to have lots of battery capacity in the United States.

article thumbnail

Survey Shows Auto Dealers Still Annoyed With Biden EV Strategy

The Truth About Cars

According to the 2024 Dealer Outlook Survey, 83 percent of respondents said the government was pushing the transition toward EVs too quickly and mucking up the auto market. About half of all dealerships also said they never bothered to register with the IRS to more easily facilitate EV tax credit exchanges.

Dealers 104
article thumbnail

Hyundai says its first EV plant will open this year to gain the $7,500 tax credit

Baua Electric

The first Hyundai plant dedicated to building EVs and batteries in the US will be open as soon as this October. According to Hyundai Motor America CEO Jose Munoz, the brand is “pulling ahead” to gain eligibility for the $7,500 EV tax credit. Munoz said EVs produced at the new plant will qualify for the tax credit.

article thumbnail

Kia to begin EV9 production in the US by May, expects $7,500 EV tax credit eligibility by 2025

Baua Electric

Kia expects the EV9 will qualify for the full $7,500 EV tax credit by early next year. Kia currently builds the EV9 in Korea but expects to move production to the US by the end of May. The EV9 is expected to qualify for the full $7,500 tax credit by early 2025. Despite the strong start, Kia expects the momentum to pick up.

article thumbnail

Ford Slashing F-150 Lightning Production and Laying Off Most of the People Building It

The Truth About Cars

Electric vehicle demand was off the mark across the board last year, with new EVs spending way longer sitting on dealers’ lots than many expected. Even with tax credits for some models, many EVs are significantly more expensive than their gas-powered counterparts.

F-150 105
article thumbnail

kWh Billing and New EV Charging Tax Policies: What You Need to Know

Blink Charging

As both EV adoption increases and internal combustion engine vehicles have become more fuel efficient, states are seeking to offset lost revenue from the gas tax. With states enacting new kWh taxes on EVs and EV charging, we want to make sure you have the right information. Kentucky will implement the kWh tax starting in January 2024.

Tax 52
article thumbnail

Electric bicycles: Hero & Yamaha JV, Proposed US tax credit for electric bicycles 

Electric Vehicles India

Electric bicycles: Hero & Yamaha JV, Proposed US tax credit for electric bicycles . A proposed US tax credit for new electric bicycle purchases bumped backed up to a full 30%. President Biden’s “Build Back Better” proposal has restored the proposed incentive back to its full 30%. billion with 15 million bikes a year.