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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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Toyota invests more in the United States for battery & BEV production

Teslarati

Toyota is taking the leap and investing more in the United States. Toyota’s electric SUV will be assembled in the United States, qualifying for the Inflation Reduction Act’s (IRA) electric vehicle (EV) tax incentives. The new SUV will be Toyota’s first battery electric vehicle (BEV) assembled in the United States.

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Air Products and AES plan to invest ~$4B for mega-scale green hydrogen production facility in Texas; 200 metric tons per day

Green Car Congress

Air Products and The AES Corporation plan to invest approximately $4 billion to build, own and operate a green hydrogen production facility in Wilbarger County, Texas. Demand for green hydrogen for mobility and industrial applications is expected to grow exponentially across the United States over the next decade.

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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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Volkswagen ID.Buzz spotted in the United States ahead of launch in Europe

Teslarati

Volkswagen is likely in the final stages of testing as the upcoming ID.Buzz is expected to come to the United States and Europe in the coming years. According to previous statements from Volkswagen , the company has received over 12,000 orders for the ID.Buzz in Europe alone and is now considering expanding production to meet demand.

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LG Energy Solutions & Hyundai team up for battery plant in the United States

Teslarati

LG Energy Solutions (LGES) and Hyundai teamed up to build a battery cell manufacturing plant in the United States. The battery plant would allow Hyundai electric vehicles (EV) to qualify for the Inflation Reduction Act’s (IRA) $7,500 tax credit. billion in electric vehicle production. based battery plant.

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

Green Car Congress

In the US, demand for new energy vehicles is set to increase as the newly passed “Inflation Reduction Act” extends tax breaks for new electric vehicle purchases—although eligibility for the tax break will be determined by the sourcing of critical materials, including lithium. Earlier post.). Source: Statista.

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