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Battle over EV tax credit pits automakers against oil interests

Green Car Reports

The possibility of an extension for the $7,500 federal EV tax credit has recently intensified lobbying efforts in Washington D.C.—and —and pitted the efforts of the auto industry soundly against those of the oil and gas industry. So reports the Washington Post.

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

Baua Electric

Analysts say rising oil prices benefited the company’s petrochemical business, helping to offset losses from its battery unit SK On, which has been facing weaker electric vehicle (EV) battery demand. . Inflation Reduction Act,” said Kang Dong-jin, an analyst at Hyundai Motor Securities.

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Tesla prices; in-wheel motor Land Rover; airless tires, robotaxis, Autopia: Today’s Car News

Baua Electric

The Tesla Model Y undercuts the Model 3 by $5,000 —for those who are EV tax credit eligible—under the latest round of Tesla price cuts made on Saturday. The attraction for kids, started with sponsorship by an oil company, has run for decades with internal combustion mini-cars, but it’s supposed to represent the future.

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Nonprofits Fueling the EV Industry

Clean Fleet Report

Inflation Reduction Act passed in August 2022 contains several points concerning EVs, including: Tax credits: Until 2032, buyers can receive a $7,500 tax credit on a list of approved American-made EVs. Used cars, commercial EVs and charging station equipment are also officially eligible for the credit. [Ed.

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Congressional Budget Office estimates US federal policies promoting EVs and other fuel-efficient vehicles will cost $7.5B through 2019; little or no impact on gasoline use and GHG in the short term

Green Car Congress

Tax credits and gasoline prices necessary for various electric vehicles to be cost-competitive with conventional vehicles at 2011 vehicle prices. For example, an average plug-in hybrid vehicle with a battery capacity of 16 kWh would be eligible for the maximum tax credit of $7,500. Source: CBO. Click to enlarge.

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Electric Vehicles Could be your Solution to the Current Gas Prices

Blink Charging

Credits and rebates are likely to cover any difference in the initial price. Tax credits and rebates are usually available on the purchase of an EV. Those credits often go as high as $7,500. With no need for maintenance such as regular oil changes, the price of maintaining EVs often falls to zero quickly.

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Toyota 3-row EVs, Tesla price cuts, electric G-wagen, airless tires: The Week in Reverse

Baua Electric

The Tesla Model Y undercuts the Model 3 by $5,000 —for those who are EV tax credit eligible—under the latest round of Tesla price cuts made last weekend. It might also be EV tax-credit-eligible while other Model 3 versions aren’t. dealerships to sell its EVs.

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