Revamped EV tax credit: Tesla, Toyota, Honda pushing back vs. union-made bonus

Green Car Reports

Honda, Tesla, and Toyota are pushing back against a proposal by Democrats in the United States House of Representatives to give union-made electric cars an additional $4,500 federal tax credit.

Proposed Changes to Federal EV Tax Credit – Part 2: End of the Manufacturer Sales Phaseout

EV Adoption

Arguably the biggest flaw in the Plug-In Electric Drive Vehicle Credit ( IRC 30D ) regulations is the triggering of a phaseout schedule of the tax credit when a manufacturer sells 200,000 total EVs (BEV and PHEV). What is less clear is how Tesla and GM will handle leases.

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Impact of Proposed Changes to the Federal EV Tax Credit – Part 1: Summary Chart

EV Adoption

A key component of the CEAA is nine proposed changes to the Plug-In Electric Drive Vehicle Credit ( IRC 30D ) — more commonly known as the “federal EV tax credit.”. It is unclear how Tesla and GM will address this retroactive credit availability for leased EVs.

EV tax credit boost, Tesla Vision fail, Tesla and Texas: Today’s Car News

Green Car Reports

Texas doesn’t budge for Tesla. Safety agencies and consumer groups warn about Tesla Vision in the Model 3 and Model Y. And will Americans be able to get up to $12,500 with a re-upped EV tax credit?

Proposed Changes to Federal EV Tax Credit – Part 5: Making the Credit Refundable

EV Adoption

One of the biggest complaints about the federal electric vehicle (EV) tax credit (IRC 30D) is that its structure of using a non-refundable tax credit is clearly more beneficial to higher-income households. How the Current Tax Credit Works For EV Buyers.

Proposed Changes to Federal EV Tax Credit – Part 3: MSRP Must Be Less Than $80,000

EV Adoption

Should expensive electric vehicles be excluded from the federal electric vehicle tax credit (IRC 30D)? While this question is often hotly debated on social media, the proposed changes to IRC 30D would draw a line in the sand and establish an $80,000 MSRP cap on the credit.

Electric car US tax credit proposed to $12,500, less for Tesla vehicles

Electrek

A new bill to reform the federal electric car tax incentive in the US has passed the US Senate Finance Committee. It includes increasing the electric vehicle tax credit to up to $12,500, but it was expertly crafted to give less to Tesla vehicle buyers.

Proposed Changes to Federal EV Tax Credit – Part 4: Chinese-Assembled Vehicles Will Not Be Eligible for Tax Credit

EV Adoption

One of the proposed changes to the federal EV tax credit that has flown a bit under the radar is also one of the most political and protectionist in nature. What Is the Near-Term impact of The Loss of the Tax Credit for EVs Assembled in China ?

Podcast: Tesla Vision, Tesla Cybertruck, electric car tax credit, and more

Electrek

This week on the Electrek Podcast , we discuss the most popular news in the world of sustainable transport and energy, including the launch of Tesla Vision, some Tesla Cybertruck news, an update on the electric car tax credit, and more.

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.

Podcast: Tesla Cybertruck delay, Model Y in Europe, $40,000 cap on tax credit, and more

Electrek

This week on the Electrek Podcast , we discuss the most popular news in the world of sustainable transport and energy, including the Tesla Cybertruck delay, the Model Y coming to Europe, and the proposed $40,000 price cap on electric cars to get the $7,500 tax credit.

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.

VW ID.4 AWD range, EV tax credit union pushback, “green” hydrogen from methane: Today’s Car News

Green Car Reports

Tesla, Toyota, and Honda are among the automakers pushing back about an EV tax credit that gives a boost to labor unions. Volkswagen reveals range ratings for its affordable all-wheel-drive EVs. And can hydrogen from a landfill really be greener than that from solar and wind?

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

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

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.

U.S. Senate Panel looks to boost EV Tax Credit to $12,500: What we know so far

Teslarati

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. will still qualify for tax credits but will not receive the full amount.

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

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

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

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.

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

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.

U.S. EV buyers will get the $7,500 tax credit with a few catches

Teslarati

The United States Electric Vehicle Tax Credit is one of the most notable advantages of purchasing a battery-electric car. billion for EV charging infrastructure, which many automakers, including Tesla , will qualify for as long as multiple car companies can use the chargers.

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

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.

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, 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

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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.

Is House EV Tax Credit Proposal Targeting Tesla? Huge Increase For Unions

InsideEVs

If the latest proposal were to pass, Tesla would lose $4,500 per car for not being unionized. Musk chimes in

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.

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.

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

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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

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$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.

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

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.

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GM Pushes For Renewal Of Its US Federal EV Tax Credit

InsideEVs

GM and Tesla have been indirectly penalized for selling too many EVs too fast

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.

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.

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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.

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