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Study finds EV buyers want rebates, not tax credits; government could have saved $2B

Green Car Congress

A study by a team from the George Washington University finds that not all financial incentives are created equal in the eyes of prospective car buyers, and the current federal incentive—a tax credit—is, in fact, valued the least by car buyers. The current federal electric vehicle tax scheme is a pain.

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EV tax credit rules get extension in big win for automakers

Teslarati

The electric vehicle tax credit rules got an extension on Friday as the U.S. The United States has attempted to free automakers of their dependence on foreign materials in their battery packs and each year will require a greater percentage of both battery materials and components to be sourced and built within the country.

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Tesla models eligible for IRA tax credits in 2024

Teslarati

As everyone greets the new year, Tesla updated its website according to the Inflation Reduction Act’s (IRA) requirements for the electric vehicle (EV) tax credits. Most of Tesla’s other models—including the Model X—are eligible for the full tax incentives. The Teslarati team would appreciate hearing from you.

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IRS seeks feedback on clean hydrogen production tax credit

Green Car Congress

The US Department of the Treasury and the Internal Revenue Service (IRS) have released three notices requesting public input on several tax credit provisions in the Inflation Reduction Act (IRA). These include: Credits for Clean Hydrogen Production (45V) and Clean Fuel Production (45Z) ( Notice 2022-58 ).

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CT legislature passes highway usage tax on heavy trucks

Green Car Congress

The Connecticut General Assembly has passed HB 6688 , a bill that imposes a highway use tax (HUT) on every carrier for operating, or causing to be operated, certain heavy, multi-unit motor vehicles (Class 8-13) on any highway (i.e., not just limited-access highways) in the state.

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S&P Global: US faces new challenges meeting increased demand for critical minerals spurred by IRA

Green Car Congress

Source: Inflation Reduction Act: Impact on North America Metals and Minerals Market Demand for copper will be 12% higher by 2035 than pre-IRA projections. Copper is not currently listed as a critical mineral in the United States and does not qualify for IRA tax credits.

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Battery-grade lithium carbonate forecast to trade at $74K/tonne in 12 months

Green Car Congress

Shanghai Metals Market data pointed to a supply deficit of 1,361 tonnes in July, swinging from the supply surplus in the prior month as the re-opening of the Chinese economy and cash subsidies for new energy vehicles lifted car manufacturer’s demand. Source: Trading Economics. Earlier post.). Source: Trading Economics. Source: Statista.

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