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Carmax, Carvana, and automotive stakeholders urge U.S. Senate to keep EV tax credits

Plug in America

American auto manufacturers will fall behind as the rest of the world transitions to electric. The future of the auto industry is up for grabs, and the future of the auto industry is electric. Innovation will stall, and with it the burgeoning industries and companies in EV-adjacent spaces like battery recycling.

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EV Tax Credits Are Working—Cutting Them Now Would Be a Costly Mistake

Plug in America

EV tax credits work Industry-wide, 87% of all EVs purchased or leased in 2024 received the federal EV tax credit. China has dominated the global auto industry since 2009 and now manufactures over three times the number of automobiles as the U.S. auto industry is currently the second largest in the world.

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China publishes plan to boost fuel-efficient and new energy vehicles and domestic auto industry; targeting 500K PHEVs and EVs in 2015, rising to 2M by 2020

Green Car Congress

China has made progress with automotive energy-saving technologies over the past 10 years through implementing passenger car fuel consumption limits and the use of fiscal policy to encourage the purchase of small cars, the government statement noted. 2012 Chinese Auto Industry Development Report.

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Tesla replays DOE loan nine years early

Green Car Congress

Elon Musk, Tesla’s Chief Executive Officer and cofounder, purchased $100 million of common equity, the least secure portion of the offering. More than 90% of loan loss reserve Congress established remains intact, while losses to date represent about 2 percent of the overall $34-billion portfolio.

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VMT receives purchase orders worth $480M from two EV manufacturers for Universal Transmission

Green Car Congress

VMT Technologies, a development and licensing company headquartered at the Novell Technology Center in Provo, Utah, has received purchase orders worth up to $480 million from two EV manufacturers—Vision Motor Cars and Leo Motors—for the VMT Universal Transmission for application in their vehicles. Earlier post.).

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Mitsubishi Rayon acquires majority of carbon fiber reinforced plastics company Wethje; targeting auto industry

Green Car Congress

MRC) recently executed a share sales and purchase agreement by which it will acquire 51% of Wethje Holding GmbH , a German company engaged in manufacturing of carbon fiber reinforced plastics (CFRP) parts for automobile applications, from Wethje parent Cross Industries AG. Mitsubishi Rayon Co.

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Auto Alliance pushing for passage of Maryland SB 1234 that would require state purchase of ZEVs; 50% of LDVs by 2026

Green Car Congress

The Alliance of Automobile Manufacturers (Auto Alliance) is strongly supporting the passage of Maryland’s SB 1234 , a bill that would require the State of Maryland to purchase zero emission vehicles (ZEVs) for state fleets. The bill also includes a reporting requirement for State agencies that purchase vehicles.

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