Teslarati

JUNE 13, 2022

The CEOs of Ford, General Motors, Stellantis, and Toyota all urged Congress to eliminate the cap on the $7,500 electric vehicle tax credit as zero-emissions vehicles cost more to manufacture. The company’s average transaction price in May 2021 was nearly $13,000 cheaper , as it sat at $52,553. percent in the past year. .”

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Teslarati

JANUARY 30, 2024

General Motors (GM) held its 2023 earnings call on Tuesday morning, and in it, the automaker detailed its plans to cut spending on the self-driving unit Cruise after one of the company’s robotaxis struck a pedestrian last October. billion before taxes from Cruise, spending about $1.9 billion in cash during the same year.

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Teslarati

DECEMBER 4, 2023

General Motors (GM) is expecting to reach profitability on electric vehicles (EVs) by 2025 as higher margin models hit the market, according to a statement from one executive last week. GM has had problems with machinery at its assembly plants that stacks battery cells into modules. Treasury , set to go into effect on January 1.

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Green Car Congress

APRIL 11, 2019

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.,

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Teslarati

OCTOBER 31, 2023

The United Auto Workers (UAW) reached tentative contracts with each of the “Big Three” automakers over the past week, just as earnings reports from Ford and General Motors (GM) highlighted the financial damage done by the six-week strikes. Knight did not disclose how much the UAW strikes affected the company’s earnings.

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Baua Electric

MAY 20, 2024

GM had its fair share of EV hurdles last year, leading to disappointing sales. Moving past Production Hell After delivering 75,883 electric cars last year, GM missed its goal of selling 100,000 EVs in the second half of 2023. GM’s delayed rollouts were caused by software issues, freight delays, and other factors.

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Teslarati

JANUARY 31, 2024

General Motors (GM) may not be catching up to electric vehicle leaders like Tesla anytime soon, but CFO Paul Jacobson has noted that the automaker’s EV business is still on the right path. ” GM’s electric vehicle efforts were hampered somewhat in 2023, with a company spokesperson noting that the automaker would have $1.7

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Baua Electric

MARCH 8, 2024

With drastically lower starting prices, the Blazer EV now starts at just over $50,000 and qualifies for the full $7,500 federal tax credit. The company confirmed it was temporarily pausing sales to fix a software quality issue. Barra said 2024 is the “year of execution” as GM looks to get back on track with EV production.

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Teslarati

OCTOBER 24, 2023

General Motors (GM) and Stellantis have announced plans to furlough hundreds more workers, just after the United Auto Workers (UAW) expanded strikes against both automakers this week. According to a report from Reuters , Stellantis will temporarily lay off 525 more workers in Michigan, while GM will furlough 139 employees in Ohio.

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Teslarati

FEBRUARY 25, 2024

General Motors (GM) is looking to specific business areas to help determine worker bonuses for the year, as the automaker attempts to right the ship at self-driving unit Cruise and launch additional electric vehicles (EVs). GM may have found its solution to its Ultium bottlenecks What are your thoughts?

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Teslarati

JANUARY 18, 2022

Orion Township approved General Motors’ (GM) request for a tax rebate on its proposed $1.3 The Orion Assembly Plant will also produce GM’s other electric vehicles. . GM plans to introduce 30 new electric vehicles to the global auto market by 2025, and the Orion Assembly Plant will play a key role in its goal.

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Baua Electric

JANUARY 19, 2024

The company says it has resolved its battery module production problems that have plagued sales for the last two years. Last year GM added new dealerships in 2023 in New York, Texas, Los Angeles, and Atlanta, said John Roth, vice president of global Cadillac, yesterday at a media roundup, reported by Detroit Free Press.

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Teslarati

DECEMBER 7, 2021

Musk also shared some of his more direct thoughts about the US government’s upcoming EV incentives, which heavily favor union-built electric cars such as the Chevy Bolt EV, as well as the idea of billionaires and how they are taxed. . Musk then shared some of his ideas about how billionaires should be taxed. “Unnecessary.

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Electrek

JULY 1, 2022

Toyota has sold its 200,000th plug-in car in the US, meaning its access to the $7,500 federal tax credit will sunset over the course of the next 15 months. The company joins Tesla and GM in no longer qualifying for credits, with Ford and Nissan also expected to hit the limit later this year.

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Baua Electric

MARCH 8, 2024

GM announced Friday that it’s dropping prices by up to $6,520 on its 2024 Chevrolet Blazer EV , while resuming sales and deliveries of the model to customers. GM paused sales of the Blazer EV in December. That aligns the Blazer EV to make a lot more sense versus other Ultium models from elsewhere in the GM family.

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Teslarati

NOVEMBER 18, 2021

Factory Zero has gone through a $2 billion conversion, and it is expected to produce several all-electric cars, starting with the GMC Hummer EV, a hulking zero-emissions pickup truck which, ironically, would (mostly) not be included in the Biden administration’s planned EV tax credit program. As a lot of folks know, I’m a car guy.

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Teslarati

JUNE 9, 2023

Yesterday, GM became the second legacy automotive company , following Ford, to come to an agreement with Tesla, which will see 12,000 Supercharger locations be opened to those vehicles, accessible through an adapter. Last week, Tesla confirmed its entire Model 3 lineup now qualifies for the full $7,500 tax credit.

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Baua Electric

APRIL 1, 2024

GM already works closely with CATL, but that relationship is limited to the China market. or Mexico, along with a GM license agreement for CATL’s LFP battery tech. or Mexico, along with a GM license agreement for CATL’s LFP battery tech. General Motors is negotiating a U.S. car manufacturing.”

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Baua Electric

APRIL 23, 2024

After losing EV market share in the US in the first three months of 2024, GM believes it can turn things around. GM expects new models like the Chevy Equinox EV and improved battery production will help regain EV market share in the second half of the year. With Chevy Bolt EV sales down 64% to just 7,040, GM lost market share from Q4.

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Baua Electric

APRIL 23, 2024

After losing EV market share in the US in the first three months of 2024, GM believes it can turn things around. GM expects new models like the Chevy Equinox EV and improved battery production will help regain EV market share in the second half of the year. With Chevy Bolt EV sales down 64% to just 7,040, GM lost market share from Q4.

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Teslarati

DECEMBER 3, 2021

The $12,500 electric vehicle tax credit proposed in President Joe Biden’s “Build Back Better” plan is being labeled as “discriminatory” by Mexican Economy Minister Tatiana Clouthier, who said the country is analyzing legal recourse and other actions, including potential tariffs against the United States.

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Teslarati

AUGUST 17, 2022

Department of Energy’s Alternative Fuels Data (DOE) published a list of electric vehicles that are immediately available for the new $7,500 EV tax credit. Tesla and GM were disqualified since both companies have sold over 200,000 EVs. Under the new law, only EVs assembled in North America qualify for the credits.

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Baua Electric

FEBRUARY 8, 2024

In this newly-created position, Kelty will be tasked with bringing together GM’s development resources “to more quickly deliver profitable, lower-cost, higher performing electric vehicles to customers at scale,” and will report directly to GM president Mark Reuss, the automaker said in a press release.

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Teslarati

JANUARY 27, 2023

Michigan Senator Debbie Stabenow successfully opposed a proposal by fellow Democrat Joe Manchin of West Virginia to eliminate certain electric vehicle models from being eligible for the Inflation Reduction Act’s (IRA) $7,500 tax credit. tax credit blocked by fellow Democrat appeared first on TESLARATI.

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Teslarati

MAY 27, 2021

The United States Senate Finance Committee is looking to boost the possible Electric Vehicle Tax Credit to $12,500 for manufacturers that have assembled union workers within the U.S. Other companies that do not have unionized workers in the U.S. will still qualify for tax credits but will not receive the full amount.

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Baua Electric

JANUARY 23, 2024

January 1, 2023, kicked off a fresh start of new tax credits for vehicles, both new and used. Since then, much of the dust has settled on the Capitol as it continues to implement qualifying terms for tax credits , continuously shifting what used EVs do and do not qualify. Here’s the latest list. Here’s how it works.

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Baua Electric

FEBRUARY 9, 2024

According to Hyundai Motor America CEO Jose Munoz, the brand is “pulling ahead” to gain eligibility for the $7,500 EV tax credit. A year later, the company announced that 99.9% Although Hyundai initially planned to begin construction in early 2023, the company pushed ahead after the Inflation Reduction Act was passed.

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Baua Electric

MARCH 28, 2024

General Motors (GM) is reportedly in talks with battery giant CATL to license its cheaper LFP battery tech. After software glitches, freight delays, and other issues caused GM to miss its EV sales target in 2023, the company believes “production hell” is behind it. Ford announced a $3.5

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Teslarati

NOVEMBER 19, 2021

trillion bill, which includes the language that will offer an up-t0 $12,500 electric vehicle tax credit for potential buyers. After several revisions to the EV tax credit in the past several weeks, the bill is now finalized and passed. Used EVs will also qualify for some tax credit relief.

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EV Adoption

FEBRUARY 23, 2021

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. It won’t solve the problem.

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Baua Electric

JANUARY 3, 2024

2023 Chevy Bolt EUV (Source: Chevrolet) GM has released its Q4 sales numbers , showing Ultium still ramping steadily, but overall EV sales are down as its best-selling model, the Bolt, winds down as Chevy takes it off the market in its best year of sales ever – leaving GM with only 3.1% EV share, well below the US average.

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EV Adoption

NOVEMBER 26, 2021

For electric vehicles, the BBBA includes multiple proposed changes to IRC 30D, more commonly knows as the federal EV tax credit. Perhaps the mostly likely is the requirement for EVs to be assembled in the US in a union factory to qualify for an additional $4,500 tax credit. Tax Credit Becomes Refundable. More on this below.

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Green Car Reports

FEBRUARY 24, 2017

A major contributor to electric-car sales is the program under which buyers of new electric cars qualify for a federal income-tax credit of up to $7,500. But these tax credits are not unlimited.

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Baua Electric

FEBRUARY 28, 2024

The next-gen Chevy Bolt EV is due out next year after GM ended production of its top-selling electric model at the end of 2023. GM’s CFO Paul Jacobson says the new Bolt EV will save the company billions by becoming North America’s first Ultium-based model to use LFP batteries. We’ve got a really good product that customers love.

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Teslarati

JANUARY 30, 2024

General Motors ( NYSE: GM ) reported strong quarterly earnings for Q4 2023 today, but electric vehicle fans might be disappointed with the company’s outlook. GM beat Q4 estimates on revenue by reporting $42.98 ” Barra said she does expect GM to be profit positive by 2H 2024. billion, better than the $39.53

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Baua Electric

JANUARY 3, 2024

As sales of electric vehicles continue to grow in 2024, many new and prospective customers have questions about qualifying for a federal tax credit on electric vehicles. Luckily, we have compiled everything you need to know about tax credits for your new or current electric vehicle into one place. How much is the federal tax credit?

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Baua Electric

MARCH 18, 2024

The EV press has covered GM’s problems with its new Ultium vehicles in great detail, so now that the company has its new Chevrolet Blazer EV back on the market, it’s only fair that we report on how the company overcame the software issues that forced it to pause sales. The Blazer is eligible for the $7,500 federal tax credit.

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