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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.

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Kia to begin EV9 production in the US by May, expects $7,500 EV tax credit eligibility by 2025

Baua Electric

Kia expects the EV9 will qualify for the full $7,500 EV tax credit by early next year. Kia America’s head of corporate communications, James Bell, told Nikkei that moving EV9 production to its West Point, GA plant will enable it to qualify for a part of the EV tax credit. FTC: We use income earning auto affiliate links.

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RCRS innovations files for IPO, aims to expand battery manufacturing – ET Auto

Baua Electric

The company is a major supplier of battery packs for solar lighting applications in India and also produces monocrystalline and polycrystalline PV panels. crore and a profit after tax of INR 5.71 The proceeds from the IPO are intended for use in meeting working capital requirements and expanding battery manufacturing capacity.

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ASK Auto Q3 FY24 PAT up 71% – ET Auto

Baua Electric

The growth in revenue in Q3 FY24 and 9 months of FY24 is driven by an increase in business of Aluminium Light Weighting Precision Solutions segment in both domestic and export market and Safety control cable segment. This includes one-time deferred tax gain of INR 715 lakh accounted for in Q3 FY24.

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GM resumes sales, cuts price of Chevy Blazer EV after software issue – ET Auto

Baua Electric

The Blazer price cuts and restored tax credit bring the effective price for qualified buyers down to USD 42,695 from the original USD 56,715 for the lowest-priced model. USD 7,500 EV tax credit after new battery sourcing rules from the U.S. automaker to halt deliveries in late December. automaker to halt deliveries in late December.

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Lucid Gravity to Debut at Next Month's LA Auto Show Ahead of Late-2024 Production

The Truth About Cars

The new Gravity will be unveiled at this year’s LA Auto Show in mid-November and will enter production late next year. The front end shares much of its shape and basic look with the Air, and the SUV appears to have an upright shape with sleek lighting fixtures.

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Pivotal begins US sales of the Helix – a light eVTOL that doesn’t require FAA pilot certification

Baua Electric

Following the debut of the production-intent design of its Helix light eVTOL, electric aviation startup Pivotal has begun selling the personal aircraft in the US. Pivotal is a light eVTOL specialist based in Palo Alto, California, that gained notoriety in the industry on the wings of its BlackFly aircraft. Base price – $260,000.

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