Tesla stock outlook soars to $1,300 per share, driven by Biden’s $10k EV tax credit

Teslarati

Tesla’s ( NASDAQ: TSLA ) stock price soared during Monday trading following the report of impressive Q1 2021 delivery and production numbers last Friday. Tesla and General Motors have both surpassed this threshold , effectively disqualifying them from giving their consumers the credit.

Fixing the Federal EV Tax Credit Flaws: Redesigning the Vehicle Credit Formula

EV Adoption

The Qualified Plug-In Electric Drive Motor Vehicles (IRC 30D) tax credit – commonly referred to as the “Federal EV tax credit” has a number of flaws, but one of the biggest is the poorly-designed formula that determines the amount of the tax credit available for each BEV and PHEV sold in the US.

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Federal tax credit on Tesla models set to ratchet down again July 1

Green Car Reports

Buyers who want to buy a Tesla have only a few days to take delivery if they want to earn a federal tax credit of $3,750 after they buy. Tesla is in the midst of the phase-out of its federal tax credit after it reported selling a cumulative total of 200,000 cars last July. The $1,875 credit on Teslas will last from July 1 to December 31, before. deals EV tax credit

Tesla Model 3 becomes eligible for Canada's EV tax credit with 93-mile version

Green Car Reports

Tesla announced a new entry-level version of the Tesla Model 3 for Canada on Wednesday. The new version is designed to limbo under the $45,000 (Canadian) price cap on Canada's new $5,000 (Canadian) electric-vehicle tax credit, which was itself designed to exclude wealthy Tesla buyers from receiving government rebates for buying their new cars. Canada EV tax credit

Automakers, electric utilities want electric-car tax credit extended

Green Car Reports

With Tesla likely to hit 200,000 electric cars sold in the U.S. later this year, it will begin a phasedown process during which the income-tax credits available to its buyers start to dwindle on a set schedule. General Motors is likely to hit the same cap a couple of quarters after Tesla. Politics incentives tax credit taxes electric utilities plug-in cars

Congressional Democrats file bills to extend federal electric-car tax credits

Green Car Reports

Vermont Congressman Peter Welch has filed a bill to extend federal electric-car tax credits for 10 more years, just as the credits begin to run out on the two largest electric-car manufacturers, Tesla and General Motors. Both Tesla and General Motors are expected to reach their cap of 200,000 electric car sales in 2018. Tesla may already have. IRS Tax Credit

Tesla offers to cover remainder of full tax credit if it can't deliver by year-end

Green Car Reports

Buyers interested in a Tesla have just one week to take delivery before the full federal tax credit gets cut in half—unless Tesla can't get the car delivered until the new year, that is. Then, Tesla says it will make up the difference. CHECK OUT: Tesla (again) says buyers must order today for full tax. tax credit

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. Under current law, consumers may receive a tax credit of up to $7,500 if they purchase an eligible electric vehicle. The bill maintains the $7,500 tax credit for the first 200,000 units sold.

Tesla expects 200,000th U.S. sale this year, electric-car tax credits to start phaseout

Green Car Reports

sales of electric cars that qualify for the full federal tax credit of $7,500? That number is 200,000; after the rest of that calendar quarter and the one following, the credit is halved for a further two quarters. sales incentives Tesla Motors tax credit New car sales plug-in cars Battery Electric Vehicle (BEV It's been a topic of discussion for years: What will happen when a carmaker reaches the cap on U.S.

Will GM or Tesla buyers lose electric-car tax credits first?

Green Car Reports

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. Once a manufacturer reaches sales of 200,000 plug-in electric cars (after December 31, 2009), the credits start to phase out for that company's cars. General Motors incentives Tesla Motors tax credit plug-in cars Tesla Model 3

What effect will lower tax credits on Tesla and GM plug-ins have? Twitter poll results

Green Car Reports

For a bunch of electric-car owning acolytes, our readers are surprisingly sanguine about the reduction and eventual expiration of plug-in tax credits on electric-car sales. We've reported extensively on the expiring tax credits, which will affect models from Tesla and GM in 2019. When Congress set up the tax credits in 2007, it scheduled them to. General Motors tax credit Polls

In an ideal world, this is how electric-car tax credits should work

Green Car Reports

The tax reform bill likely to be voted on by the U.S. Senate and House of Representatives retained a number of provisions originally slated to be cut from the tax code. Among them was the federal income-tax credit for purchase of a plug-in electric vehicle. Three carmakers—General Motors, Nissan, and Tesla—have now used more than half.

Tesla changes, EPA updates, tax credits, Kia Soul EV review: The Week in Reverse

Green Car Reports

What model will Tesla quit selling online? Tesla shook up its lineup again on Friday, announcing leases for the Model 3 and dropping the base $35,000 from its. karma EPA plug-in cars The Week In Reverse lithium Andrew Wheeler EV tax creditWhich U.S. state may regain the title of lithium-mining capital? This is our look back at the Week In Reverse—right here at Green Car Reports—for the week ending April 12, 2019.

Tesla, GM, Nissan band together to extend electric-car tax credits

Green Car Reports

As tax credits for buyers of America's two most popular electric-car brands begin to sunset, automakers and advocates are banding together to restructure the tax-credit program and extend them. Tesla, General Motors, and Nissan—the top three sellers of electric cars in the U.S.—have

Tesla sets Monday deadline for full tax credit

Green Car Reports

Tesla has given buyers a deadline of Monday to order a car if they want the full $7,500 federal tax credit. That's 2-1/2 months before the credit officially expires, but since most Teslas are built to order, the company needs some lead time for orders. A notice on Tesla's website reads: "All orders placed by October 15, 2018 will be delivered by

Tesla sells 200,000th car, starting phaseout of federal tax credits

Green Car Reports

Tesla's vehicle purchase incentives web page on Thursday morning reported that the wind-down of incentives for buyers of its cars has begun. Following the change, Tesla buyers will only be eligible to receive the full $7,500 federal tax credit until Dec. After that, the credits will halve The change was first noted and reported by Jalopnik.

Nevada treasurer, Faraday's nemesis, turns eye toward Tesla tax-credit transfer

Green Car Reports

After offering a generous incentive package several years ago, the Silver State landed Tesla's lithium-ion battery "Gigafactory," which is now up and running just outside Reno. Manufacturing government incentives jobs tax credit plug-in cars nevada gigafactory Faraday FutureThe state of Nevada has been fairly generous to startup electric-car makers that pledge to establish manufacturing operations within its borders.

What effect will lower tax credits on Tesla and GM plug-ins have in the new year? Take our Twitter poll

Green Car Reports

The wind-down of federal tax credits on plug-in vehicles begins to hit in 2019. Tax credits for Tesla buyers were already reduced to $3,750 on Tuesday. The reduction in the credits is likely to have an effect on sales, especially as GM has already. tax credit PollThe same reduction is scheduled to hit GM's plug-in models, the Chevy Volt and Bolt EV on April 1.

Tesla nearing limit of $7,500 federal tax credits, which will boost effective prices this fall

Green Car Reports

Adding to Elon Musk's headaches this month, Tesla is about to hit the limit on federal tax credits for electric cars. The tax credits, passed in 2008 as part of the Energy Improvement and Extension Act and signed by President George W. This could effectively raise prices for buyers of the company's critical Model 3. Bush, grant taxpayers who buy

Tesla to offer full refunds to buyers who miss tax credit cutoff

Green Car Reports

As we've covered here before, Tesla buyers are facing the expiration of the full federal plug-in vehicle tax credit that the cars are currently eligible for through Dec. Twice, Tesla has set deadlines for buyers to order their cars if they want to receive the full credit. Now Tesla is offering a carrot alongside the IRS's stick.

Tesla (again) says buyers must order today for full tax credit

Green Car Reports

If you want to buy a Tesla and get the full tax credit, today is your last day to order for Tesla to guarantee delivery by December 31. With the tick-over of the new year, the federal tax credits on Teslas will be reduced from $7,500 to $3,750. That could raise base price of a Tesla from $39,700 after the tax credit to $43,450 (including delivery

No deal for Chevrolet Volt, Chevy Bolt EV buyers in final days of tax credit

Green Car Reports

Consumers have less than three days to buy a plug-in Chevy Volt or Bolt EV from GM and still qualify for the full $7,500 federal tax. Nor does GM have any plans to cut prices after the tax cut expires on Monday, as Tesla did with its cars after the tax credit. And yet Chevrolet isn't making any final push to clear out inventories of either car.

When Tesla's tax credits expire, which electric car would you buy? Twitter poll results

Green Car Reports

Last week, we reported that the federal tax credits for electric-car buyers are about to expire. Once any automaker sells 200,000 electric cars, the credits available to its buyers begin to wind down. Since Tesla has been selling electric cars longer than any other automaker (at least since the credits were passed), and has sold more electric cars.

Commentary: Tesla races to outrun perfect storm from tax credit, production, cost hurdles

Green Car Reports

Tesla's earnings call on Wednesday showed the company making money—but struggling to keep doing so. Based Tesla's financial reports as well as its recent moves to restructure its model lineup and cut prices in response to a cut in federal tax credits for its buyers, there are a few things that must keep CEO Elon Musk up at night: The company.

Tesla tax credits cut, BMW gas engines run on, Europe likes SUVs: Today's Car News

Green Car Reports

Tesla faces another drop in tax-credit eligibility for its cars on Monday. The federal tax credit on Teslas is. The company is also reportedly working to develop its own batteries. Automakers are concerned they won't be able to sell enough EVs in Europe. And BMW says gas engines won't go away any time soon. All this and more on Green Car Reports. Today in Car News

After Tesla's federal tax credits expire, which electric car would you buy?

Green Car Reports

Last week, we reported that Tesla is close to reaching the end of its allocation of federal tax credits for those who buy its cars. The credits amount to a $7,500 discount for most buyers. The credits were passed after the 2007 federal Energy Independence and Security Act to promote the sale of electric cars. They offered buyers a way to offset. Polls

$49,900 after tax credit

Plugs and Cars

According to the Tesla newsletter "the Model S will have an anticipated base price of $57,400. After a federal tax credit of $7,500, the effective price will be $49,900." Tags: tesla model s tesla motors battery electric car Elon Musk has disclosed the intended price of Model S, even if the car itself must spend another week under wraps. And another two years before production cars begin to roll off an assembly line.

Hackable home chargers, Tesla tax credits: Today's Car News

Green Car Reports

With a short holiday week and both readers and editors working to focus more on family time than glowing screens, we have a smaller deck of news pieces this morning here on Green Car Reports. In an announcement that should grab the attention of most electric-car owners, electronic security firm Kaspersky Labs released a report showing that the

Beyond the federal tax credit: A Guide to Clean Car Incentives

Green Car Reports

The king of all financial incentives for plug-in cars is, of course, the federal tax credit of up to $7,500. With Tesla’s federal tax credit already on its way to expiring and GM’s close behind, it’s worth knowing where to look for other incentives for those who want an electric car. It’s not the only one, though.

2016 Scion iM, Mercedes Tesla Rival, Electric-Car Tax Credits: Today's Car News

Green Car Reports

Today, we drive the 2016 Scion iM compact hatchback, Mercedes-Benz hints at a Tesla-rivaling electric car, and a new study finds that the majority of electric-car tax credits go to higher-income households. The Tesla Roadster 3.0 All this and more on Green Car Reports. battery upgrade will cost $29,000, and provide up to 330 miles of range, the. Today in Car News

Tesla safety features, 2020 Toyota Prius Prime, Polestar tax credits: Today's Car News

Green Car Reports

Polestar revealed that its cars will earn tax credits separately from parent-company Volvo. And Tesla announced that it will make some of its active lane control features standard. Tesla will roll. The 2020 Toyota Prius Prime gets useful updates. Chinese electric-car startup Nio announced layoffs in the US. All this and more on Green Car Reports. Today in Car News

Tesla brakes and tax credits, Sono solar car, Twitter poll on charging: Today's Car News

Green Car Reports

After Consumer Reports refused to recommend the Tesla Model 3 over poor performance in its emergency braking tests, Tesla announced it would send an over-the-air update to improve the car's braking ability. Based on Tesla's own delivery reports, the company is reaching the end of its allotment of $7,500 federal tax credits for buyers.

Infiniti’s electric inspiration, EV tax credit boost, FCA-PSA merger: Today’s Car News

Green Car Reports

Some members of Congress are helping keep EV tax credit reform on the table. NHTSA has a long list of questions for Tesla. PSA and FCA could merge into a greener, more electrified company. And Infiniti reveals more about its plan for the future. This and more here at Green Car Reports. Just before the 30th anniversary of its original launch in the. Today in Car News

Tesla tax credits, BMW charger recall, and Israel to ban internal-combustion engines: Today's Car News

Green Car Reports

Tesla tells buyers the final date to order a car before federal tax credits expire. BMW recalls charge cords for its electric cars. Israel plans to stop the sale of cars with internal-combustion engines by 2030. And we round up the best deals on green cars this month. All of this and more on Green Car Reports. Monday is the final date to place an

Tesla Model S P85D Torque, Georgia Electric-Car Tax Credit, Chevy CrossVolt: Today's Car News

Green Car Reports

Today we learn just how much torque the Tesla Model S P85D electric car produces, survey the ongoing fight over Georgia''s electric-car tax credit, and consider what the renewal of the CrossVolt trademark means for Chevy''s future electric-car lineup. We''ve got more details on the Tesla Model S P85D.

Tesla price hike, Dyson factory plan, GM tax-credit sunset: Today's Car News

Green Car Reports

GM is next, after Tesla, in hitting the 200,000 ceiling for the EV tax credit. The EPA dismisses some more groups of scientists. And electric-vehicle hopeful Dyson is soon starting a factory, as Faraday Future's struggles continue. All this and more on Green Car Reports. Less than six days after rolling its new Model 3 Mid Range out for order. Today in Car News

Volkswagen quantum computers, Daimler diesel recall, and Tesla tax credits: Today's Car News

Green Car Reports

The results are in from our latest Twitter poll asking what electric car readers would buy when Tesla's tax credits begin to sunset. Volkswagen wants to use quantum computers to develop tailor-made electric-car batteries. Daimler has recalled hundreds of thousands of diesel cars in Europe. And the Jeep Grand Cherokee and Ford Explorer flunk the

Chevrolet tax credits, Tesla delays, Nissan Leaf Plus range drive: The Week in Reverse

Green Car Reports

What new features have been enabled on some Teslas? Tesla AutopilotWhich new electric car didn't give us any range surprises in a recent test drive? This is our look back at the Week In Reverse—right here at Green Car Reports—for the week ending March 29, 2019. After this weekend, electric cars from Chevy will no longer be eligible for the full.

GM confirms it will reach EV tax credit ceiling this year—then phaseout begins

Green Car Reports

Any other brand but Tesla, that is. Beginning next April, buyers of General Motors’ electric vehicles and plug-in hybrids won’t be getting the same break on their purchase as those who buy those vehicles from any other brand. GM has confirmed to Green Car Reports that it will reach 200,000 deliveries of vehicles eligible for the

Tesla electric-car tax credits, Pininfarina electric-car brand, and best deals on green cars: Today's Car News

Green Car Reports

Tesla is the first automaker to reach the 200,000-car limit for federal electric-car tax credits. Tesla delivered its 200,000th car this past week, which means the Pininfarina plans for a new line of exotic electric cars. And we have the best deals on plug-in, hybrid, and other fuel-efficient vehicles. All of this and more on Green Car Reports.

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Polestar 2 tow-rated, Mercedes EQC delayed, tax-credit hopes dashed: The Week in Reverse

Green Car Reports

Where will Tesla owners soon be able to fast-charge—other than a Supercharger station? Which automaker claims the most energy-dense battery pack for an upcoming vehicle?

Tesla 'Best Overall' Vehicle, 2016 Toyota Mirai Factory, Georgia Electric-Car Tax Credit Threat: Today's Car News

Green Car Reports

Today, the Tesla Model S once again nabs Consumer Reports'' "Best Overall" vehicle honor, the 2016 Toyota Mirai hydrogen fuel-cell car gets built in small batches in Japan, and a bill to kill Georgia''s electric-car tax credit rises from the dead.

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Tesla Gigafactory, Volvo plug-ins, EV tax credit support, Infiniti EV, U.S. lithium mining: Today's Car News

Green Car Reports

With a new bill in Congress, the effort to extend EV tax credits no longer comes just from Democrats. Tesla and Panasonic are reportedly shelving plans to further expand their lithium-ion battery Gigafactory. Infiniti unveils its new electric sports sedan. Volvo announces new high-performance plug-in hybrids. And demand for batteries triggers. Today in Car News

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