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NOVONIX to receive $103 million in tax credits to support production of critical battery materials in Tennessee. – Charged EVs

Baua Electric

Battery materials and technology company NOVONIX has been selected to receive a $103-million tax credit under section 48C of the Qualifying Advanced Energy Project Allocation Program, to support production of critical battery materials at its Riverside facility in Chattanooga, Tennessee.

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2023-2024 VW ID.4: Most eligible for full $7,500 EV tax credit

Baua Electric

4 electric crossovers on sale now are eligible for the full $7,500 federal EV tax credit, VW confirmed Wednesday in a press release. 4 will retain the tax credit for the entirety of the 2024 calendar year. 4 models are still being sold, with a base price of $40,290, including destination, before the tax credit.

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SK Innovation Q2 profit tops forecast, battery unit eyes EV demand recovery – ET Auto

Baua Electric

The company posted an operating profit of 625 billion won (USD 454 million) for the January-March period, versus a 375 billion won profit a year earlier. SK Innovation, which also owns South Korea’s top refiner SK Energy, said it expects solid refining margins to continue in the second quarter backed by firm demand.

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Blazer EV price cut, Dodge electric muscle, Rivian R2 and R3: The Week in Reverse

Baua Electric

Which affordable EV regained its EV tax credit eligibility this week? Rivian on Thursday provided the most significant future-product preview since the debut of its R1 series trucks at the 2018 LA auto show. The 2024 Nissan Leaf is eligible for an EV tax credit of $3,750, the automaker confirmed mid-week.

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EV tax credit supply chain rules ease, but China restrictions remain

Baua Electric

In a coordinated push through federal agencies, the Biden administration on Friday released a revised set of regulations applying to the EV tax credit that will ultimately make the credit easier to claim for a wider range of vehicles in 2025 and 2026 but no easier for Chinese companies to gain a foothold on the market.

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Westwater Resources is building a facility in Alabama to process one of the largest graphite deposits in the US

Charged EVs

The few companies that have access to graphite mines in North America are the belles of the EV ball at the moment. The company is currently building a graphite processing plant in Kellyton, Alabama. It’s amazing what the IRA is driving in terms of new companies and investment. Take Westwater as an example.

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Hands-on with the ChatGPT-enabled VW ID.4, with big 2024 model year changes

Baua Electric

4 does currently qualify for the full $7,500 US federal EV tax credit – the only car made by a foreign automaker to qualify, due to local production in Chattanooga, Tennessee – and the credit is now available upfront at the point of sale. This makes the 62kWh version quite attractive at a ~$32k base price after credit.