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GM expects Chevrolet Silverado EV to get full $7,500 tax credit

Teslarati

General Motors (GM) expects the Chevrolet Silverado EV to get the Inflation Reduction Act’s (IRA) full $7,500 tax credit. The Chevrolet Silverado EV will be equipped with GM’s Ultimum Platform and probably the Ultium battery pack. Treasury’s proposed guidance on critical minerals and battery component requirements.

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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’s first three-row electric SUV is off to a good start. Kia expects the EV9 will qualify for the full $7,500 EV tax credit by early next year. Kia currently builds the EV9 in Korea but expects to move production to the US by the end of May. The EV9 is expected to qualify for the full $7,500 tax credit by early 2025.

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Subaru mistakenly says 2024 Solterra owners are eligible for the $7,500 EV tax credit

Baua Electric

Subaru mistakenly said some 2024 Solterra owners will qualify for the $7,500 EV tax credit. Subaru “owners” are not eligible for $7,500 EV tax credit Subaru introduced the 2024 Solterra electric SUV yesterday with new upgrades, including faster charging and more. That’s including a $1,345 destination fee.

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Hyundai says its first EV plant will open this year to gain the $7,500 tax credit

Baua Electric

The first Hyundai plant dedicated to building EVs and batteries in the US will be open as soon as this October. According to Hyundai Motor America CEO Jose Munoz, the brand is “pulling ahead” to gain eligibility for the $7,500 EV tax credit. Munoz said EVs produced at the new plant will qualify for the tax credit.

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DOE awards $98M in tax credits to automakers and suppliers for clean technology manufacturing

Green Car Congress

The US Department of Energy (DOE) announced $150 million in clean energy tax credits to 12 businesses to build US capabilities in clean energy manufacturing; $98 million of that goes to five automakers and suppliers towards investments in domestic manufacturing equipment. Funded at $2.3 Funded at $2.3 Lead organization.

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Honda joins EV race with historic $11B investment to build 240K EVs a year

Baua Electric

Honda is finally joining the EV race after announcing a massive $11 billion (CAD$15 billion) investment to build four new EV plants in Canada. The historic investment will be used to build Canada’s first EV supply chain, enabling 240,000 Honda EVs to be made for the US and Canada annually. Production is expected to begin in 2028.

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Kia will push EV leasing to harvest tax credit score boon

Baua Electric

. “There’s been a bit of a pause in the industry for some brands on electric vehicle sales as everyone sorted out the tax implications of the Inflation Reduction Act,” Watson defined. On account of the tax credit score adjustments, Kia expects leasing as a proportion of its EV trade to extend from 15 p.c