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

Ansys releases pre-lockdown global survey on vehicle electrification

Green Car Congress

Before the COVID-19 pandemic lockdowns, engineering simulation software company Ansys commissioned a global survey of 16,037 adults resulting in some insights about consumer attitudes toward vehicle electrification. US respondents are split when it comes to when they’ll consider purchasing an EV.

article thumbnail

How Does the Electric Car Tax Credit Work in 2023?

Setec Powerr

The global push towards sustainable energy and reducing carbon emissions has given rise to the popularity of electric vehicles (EVs). One such incentive is the electric car tax credit, designed to help offset the initial cost of EVs for buyers. Section 1: Overview of the Electric Car Tax Credit in 2023 1.1

article thumbnail

81% of EVs Sold in 2023 Still Qualify for the Federal EV Tax Credit

EV Life

The Inflation Reduction Act of 2022 (IRA) introduced new guidelines for a federal EV tax credit aimed at helping qualified drivers purchase an electric vehicle. The tax credit is part of a broader plan to make 50% of new vehicles sold in the United States hybrids or plug-ins by 2030. dependence on China.

article thumbnail

Hertz announces ‘strategic decision’ to slash EV fleet

Teslarati

In the filing , Hertz said the figure is roughly one-third of its global EV fleet. Hertz said that a portion of the proceeds from the sale will go into the purchase of combustion engine vehicles, which are being utilized at a higher demand. Hertz has health with a major decrease in the value of its EV fleet, it said.

Fleet 118
article thumbnail

SK On signs 5-year lithium hydroxide supply deal with SQM

Green Car Congress

Under the deal, SK On will purchase up to 57,000 tons of high-quality lithium hydroxide for five years starting in 2023. The IRA offers a tax credit to consumers when they buy an EV with batteries equipped with a certain percentage of critical minerals extracted or processed in the US. million electric vehicles (EVs).

Supplies 273
article thumbnail

Tesla Model Y ads surface on Facebook

Teslarati

The Tesla Model Y currently starts at $36,490 after federal tax credits from the Inflation Reduction Act. The company also offers up to 5,000 free Supercharger miles with every new Model Y purchase. Facebook has over 3 billion monthly active users, or approximately 37% of the global population.

Tesla 121