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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. The Biden Administration is considering a reprieve from the Treasury’s requirements.

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Volkswagen ID.4 with SK ON battery components eligible for full $7,500 tax credit in 2024

Teslarati

4 units with SK On battery components qualify for the Inflation Reduction Act’s (IRA) full $7,500 federal tax credit for electric vehicles. 4 units with batteries from SK On qualify for federal tax credits. 4 EV may choose to apply the tax credit as a down payment for the vehicle. The 2023 ID.4 Volkswagen sells the 2023 ID.4

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This Volkswagen EV Now Comes with Full Tax Credit Benefits

The Truth About Cars

4, equipped with SK On battery components, will be eligible for the full $7,500 Federal Tax Credit. 4, which start at a base MSRP of $38,995 before the tax credit, a more budget-friendly option in the electric SUV segment. that qualifies for the full Federal Tax credit. 4 and how the tax credit enhances its accessibility.

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

Baua Electric

According to Hyundai Motor America CEO Jose Munoz, the brand is “pulling ahead” to gain eligibility for the $7,500 EV tax credit. The site “is advancing ever day,’” according to Oscar Kwon CEO of the Hyundai Motor Group Metaplant America (HMGMA). Munoz said EVs produced at the new plant will qualify for the tax credit.

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Mercedes-Benz Reportedly Rethinking North American EV Strategy

The Truth About Cars

Canadian dealers of Mercedes-Benz vehicles are reporting that the automaker is considering revising its strategy for North America. The dealers attended a market-wide retailers meeting in Vancouver held in May and noted that the automaker was fretting about consumer hesitancy over expensive electric vehicles.

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Hyundai and Kia are closing the gap with Tesla as US EV market share hits double-digits

Baua Electric

Hyundai and Kia have been on a roll with some of the most affordable, fuel-efficient electric cars in the US. Offering over 300 miles range, fast charging in under 20 mins, and an affordable price tag, the Korean automakers are making their presence known in the US. So far, it seems to be working. We can help you get started.

Kia 40
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Hyundai IONIQ 5 sales are on fire in the US, setting another record in May

Baua Electric

Hyundai Motor America sold a record number of IONIQ 5 models in May as EV sales continue trending higher. In an exclusive interview with Electrek last month, Hyundai America CEO Randy Parker said the automaker is “humble and hungry” to separate itself from EV rivals. Hyundai IONIQ 6 sales are also up 188% YOY through May.

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