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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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Tesla Model Y’s complete lineup now qualifies for EV tax credits through Inflation Reduction Act

Teslarati

Tesla’s complete lineup of Model Y trim levels now qualifies for electric vehicle tax credits through the Inflation Reduction Act, as the Internal Revenue Service (IRS) has increased the applicable MSRP limit to $80,000 across each of the all-electric crossover’s configurations.

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With new 58 kWh battery pack option, Hyundai IONIQ 5 to start at $39,700

Green Car Congress

Hyundai revealed pricing, packaging and a 58kWh battery pack option for its coming IONIQ 5, an electric crossover utility vehicle (CUV). Customers can select from two battery pack options—either 58 kWh or 77.4 kWh battery pack starts at $43,650. Parametric Pixel LED lighting elements. The IONIQ 5 SE with its 77.4

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President Obama Awards $2.3B for Tax Credits for New Clean-Tech Manufacturing Jobs; GE Gets Largest Battery-related Award

Green Car Congress

billion in Recovery Act Advanced Energy Manufacturing Tax Credits for clean energy manufacturing projects across the United States. The 183 projects in 43 states include several for the manufacturing of advanced batteries; biomass projects; and vehicles. GE claimed the largest of the battery-related awards, with a $25.5

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What EV Drivers Should Know About Leasing an EV This Year

Blink Charging

Although the $7,500 consumer tax credit for buying an electric car is becoming more restrictive for new vehicles adhering to specific manufacturing requirements , there’s a provision enabling consumers to still enjoy the credit when leasing an EV assembled outside of North America.

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EIA: California home to almost half of US plug-in electric vehicles

Green Car Congress

Total US sales of plug-in electric vehicles (PEVs)—battery electric and plug-in hybrid electric—have increased in recent years, but still represent only about 0.7% Several states offer tax incentives to reduce the upfront cost of PEVs to consumers. sales and use tax. of new vehicle sales in 2014 so far, up from 0.6%

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