Remove Companies Remove GM Remove Purchase Remove Tax Credit
article thumbnail

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.,

article thumbnail

Proposed Federal EV Tax Credit Reform: Will It Move the Sales Needle?

EV Adoption

For electric vehicle observers, the legislation contains two key provisions: The first would extend the tax credit to automakers who already reached the current phaseout level of 200,000 EVs sold with another 400,000 vehicles, but with a reduction to $7,000 from the current maximum $7,500 credit.

article thumbnail

The EV Tax Credit: Buy Now or Wait Until 2024?

EV Life

The Treasury Department just released new guidance that will enable consumers to use their $7500 EV tax credits more like an upfront rebate starting in January 2024. However, new vehicle requirements are also taking effect that raise questions about which vehicles will still qualify for tax credits in the new year.

article thumbnail

If you bought a Chevy Blazer EV, you may be eligible for an up to $6,500 reimbursement

Baua Electric

After GM drastically cut the starting price of the new Chevy Blazer EV , early buyers are now eligible for a reimbursement of up to $6,520. Chevy offers early Blazer EV buyers reimbursement GM finally lifted the Blazer EV stop-sale after nearly three months in early March.

article thumbnail

Hyundai sold nearly 269,000 electric vehicles last year as IONIQ 5 and 6 spark growth

Baua Electric

The company saw solid sales growth across key markets, including North America, Europe, and India. 2024 Hyundai IONIQ 6 Limited (Source: Hyundai) The company said 99.9% Hyundai accelerated construction to take advantage of government incentives like the $7,500 tax credit. billion EV and battery plant in late October.

Hyundai 52
article thumbnail

Biden attends the Detroit auto show to further promote EVs

Setec Powerr

14, thus making more people aware of the accelerating transition to electric vehicles by automakers and the billions of dollars companies are investing in building battery plants. At this year’s auto show, Detroit’s three largest car companies will showcase a variety of electric vehicles. Although Biden and the U.S.

Detroit 97
article thumbnail

Electric Vehicle Spotlight: Financing a Chevrolet Bolt EUV

EV Life

We’ll also explore the best ways to save money on the purchase of a Bolt EUV by taking advantage of available EV incentives with an EV Climate Loan through EV Life. However, just months after the announcement in April that the Bolt would be no more, GM reversed course. Federal, State, and Local EV Incentives Federal Tax Credit.