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Tesla $7,500 credit up front, Toyota affordable EVs, Ram electric vans: Today’s Car News

Baua Electric

Toyota pushes back about the viability of affordable EVs. And Tesla buyers can now get the $7,500 EV tax credit up front—if they qualify. Tesla has started applying the EV tax credit at the time of purchase —via its own website and affecting the up-front amount buyers will need to pay when buying a new Tesla.

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Hyundai Ioniq 6 deal, affordable Honda and Toyota EVs, Civic and Elantra hybrids: The Week in Reverse

Baua Electric

Two automakers this past week, both known for affordable gasoline cars, dashed hopes of seeing more affordable EVs anytime soon. Toyota also dismisses the viability of an affordable EV —in this case, specific to the European market. 2023 Tesla Model Y – Courtesy of Tesla, Inc.

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GM taps ex-Tesla battery chief to deliver cheaper EVs sooner

Baua Electric

General Motors has hired former Tesla battery-development boss Kurt Kelty as its new vice president of batteries. “For more than 30 years, I’ve been focused on helping develop and commercialize battery technologies that will aid in the transition to electric transportation,” Kelty said in a statement.

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The EV Battery Wish List

Cars That Think

A battery will be the high-voltage heart of each of those 77 million electric vehicles, and by far their most expensive component, setting off a worldwide race to ethically source their materials and crank up production to meet exploding demand. Yet propelling this full-size luxury barge still demands a 112 kWh battery aboard.

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OPINION: Musk’s distaste for Biden incentives would even EV playing field

Teslarati

produced battery, and it’s a Chevrolet Bolt), might be the best way for consumers to choose what vehicle would be best for them, and it might be the most ideal way for political interests to subside from the bigger picture: transitioning away from combustion engine vehicles.

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Hyundai and Ford’s EV registrations outpace the competition in March

Baua Electric

With new affordable models like the Volvo EX30 and Chevy Equinox EV, some see the momentum picking up in 2024. With some of the most affordable and fuel-efficient EVs on the market, Hyundai expects the momentum to continue this year. EVs built at the facility are expected to qualify for the $7,500 federal tax credit.

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82% of BEVs & PHEVs Available in the US in 2022 Have a Base MSRP of $40,000+

EV Adoption

Not all dealers add these markups, but many do and they can range from just a few hundred dollars up to $50,000 or more (which I personally saw on a Mercedes-Benz EQS SUV recently). Lack of Affordable EVs Remains a Key Hurdle to Mass Adoption. DMAs of $5,000 to $7,500 are relatively common among luxury EVs. 4 ($3,735).

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