article thumbnail

New bipartisan bill in US Congress to expand EV and hydrogen fuel cell tax credits

Green Car Congress

US Senators Debbie Stabenow (D-MI), Lamar Alexander (R-TN), Gary Peters (D-MI), and Susan Collins (R-ME) along with Congressman Dan Kildee (MI-05) introduced the Driving America Forward Act, bipartisan legislation to expand the electric vehicle and hydrogen fuel cell tax credits. ITC Holdings Corp.,

article thumbnail

Inflation Reduction Act mandates escalating battery critical mineral requirements to qualify for EV tax credit

Green Car Congress

The Inflation Reduction Act , which the Senate passed last week, revamps the electric vehicle Federal tax credit of $7,500 ( earlier post ). Among the changes are an extension of the tax credit through 2032, the removal of the unit-sales cap of 200,000 per OEM, and a new mandate for qualified cars being assembled in North America.

article thumbnail

Sun Tzu & The Art Of The EV Tax Credit: How To Not Get Ripped Off By Dealers (Part 1)

CleanTechnica EVs

I know it’s not wise to count your chickens before they hatch, especially when you’re depending on the US Congress for something. So, I may be getting ahead of myself by discussing upcoming EV tax credits.

article thumbnail

Dubai mining firm plans to start Argentina lithium production next year – ET Auto

Baua Electric

Pielsticker said he supports a proposal from President Javier Milei, under discussion in Congress, to give taxes, customs and exchange rate benefits to large projects. Lithium output grew nearly a third in 2023 compared to the prior year.

article thumbnail

Biden attends the Detroit auto show to further promote EVs

Setec Powerr

President Joe Biden (Joe Biden) attended the Detroit Auto Show on Sept. At this year’s auto show, Detroit’s three largest car companies will showcase a variety of electric vehicles. greeted Biden on the auto show floor. At the Detroit Auto Show, Biden also announced that electric vehicle purchases by the U.S.

Detroit 97
article thumbnail

Electric-car tax credit retained in Congressional tax reform bill: report

Green Car Reports

We'll likely never know whether it was the influence of auto lobbyists, pressure from the actual public, or a letter signed by two dozen mayors. income-tax credit for purchase of a plug-in electric vehicle will not be killed after all. But however the sausage was made, it appears that the U.S.

article thumbnail

EV tax credit score rules will have to be adopted, Manchin tells Treasury

Baua Electric

“My comment is simple: Follow the law,” he wrote in an 11-page letter to Treasury, explaining that the tax credit score’s objective is “no longer to promote the purchase and use of [EVs] … but to promote reliable domestic supply chains for the critical minerals and battery components” had to energy them.