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US President Biden pats GM CEO’s back: “You electrified the entire auto industry. You led.”

Teslarati

US President Joe Biden recently visited General Motors’ Factory Zero in Detroit, a site that the veteran automaker notes would be the centerpiece of a massive electric vehicle revolution. “In the auto industry, Detroit is leading the world in electric vehicles. You know how critical it is?

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Ford, GM, Stellantis, Toyota push for Congress to eliminate EV tax credit limits

Teslarati

The CEOs of Ford, General Motors, Stellantis, and Toyota all urged Congress to eliminate the cap on the $7,500 electric vehicle tax credit as zero-emissions vehicles cost more to manufacture. The tax credit cap only has Tesla and GM buyers disqualified from receiving the credit.

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Trump budget could affect Lordstown Motors funding, again seeks to end EV tax credit

Green Car Reports

The future of the program, called ATVM within the auto industry, could potentially affect the viability of Lordstown Motors, the venture aiming to make electric pickups in.

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U.S. EV buyers will get the $7,500 tax credit with a few catches

Teslarati

The United States Electric Vehicle Tax Credit is one of the most notable advantages of purchasing a battery-electric car. The future of the auto industry is electric — and made in America. Earlier this year, a $12,500 EV tax credit was discussed. A new amendment passed by the U.S. when brand new is $40,957.

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Survey: Dealers think Biden is moving too fast on EVs

Baua Electric

Dealers think the Biden administration’s EV policies are forcing the auto industry to move ahead of market demand, according to a new Automotive News survey. Surprisingly, 57% of respondents thought that the new point-of-sale rebate for the federal EV tax credit would have no effect on EV sales, or they were unsure.

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

Teslarati

Hyundai Motor Group and LGES signed a memorandum of understanding on May 26 in Seoul, Korea, for a battery cell manufacturing facility in Bryan County, Savannah, Georgia. The battery plant would allow Hyundai electric vehicles (EV) to qualify for the Inflation Reduction Act’s (IRA) $7,500 tax credit. based battery plant.

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UAW president blasts U.S. mortgage to Ford three way partnership battery tasks

Baua Electric

Senator Bernie Sanders criticized a Basic Motors-LG Power Resolution three way partnership battery plant for paying employees a lot lower than GM meeting plant workers despite the fact that it advantages from hefty U.S. executive tax credit. executive tax credit. ” In April, the UAW and U.S.

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