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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., ITC Holdings Corp.,

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Motor vehicle taxation brings in €440.4B for governments in major European markets

Green Car Congress

New data shows that motor vehicles generate more than €440 billion in taxation per year for national governments in the major EU markets plus the UK, the European Automobile Manufacturers’ Association (ACEA) reports. This just goes to show the sheer scale of the importance of the automobile industry to Europe.

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How China beat everybody to be international chief in electrical automobiles

Baua Electric

By way of: Bloomberg | Up to date on: 18 Jul 2023, 08:55 AM A truck transports unutilized Tesla vehicles at its manufacturing facility in Shanghai, China. Production is booming too — Chinese language manufacturers account for approximately part of all EVs offered globally, HSBC analysts stated in a up to date be aware.

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China automobile gross sales reduction 2.9 p.c in June as big-ticket spending falters

Baua Electric

Then again, Tesla’s percentage in China’s marketplace of natural electrical and plug-in hybrid automobiles fell to eight.8 The post China automobile gross sales reduction 2.9 in the second one quarter from 10.5 within the first 3 months, consistent with Reuters’ calculation according to CPCA numbers.

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Tesla to spend almost $2 billion on components from India this year

Teslarati

After years of negotiating with the Indian government over high import taxes on vehicles, a new report shows that Tesla plans to make significant investments in the country this year. However, Tesla’s vehicles are not yet available in India, mainly due to import taxes of as much as 35 percent on automobiles.

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Kia will push EV leasing to harvest tax credit score boon

Baua Electric

Kia The united states will incline aggressively into an Inflation Relief Office provision that permits it to go ailing a $7,500 federal incentive to electrical automobile shoppers who choose to hire as opposed to purchase, in line with Eric Watson, the automaker’s gross sales leading. or in a rustic the place the U.S.

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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.