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Good News and Bad News: Changes to the Federal EV Tax Credit in 2024

EV Life

Well, it’s 2024, the changes to the federal EV tax credit have officially taken effect, and it’s a bit of a mixed bag. The list of electric vehicles that qualify for the federal tax credit shrunk from 35 to 14, according to the US Department of Energy. Which Electric Vehicles Still Qualify for the Tax Credit?

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Tesla launches limited-time 0.99% APR loan rate on U.S. Model Y orders

Teslarati

Credit: Tesla The recently launched base-level Model Y Long Range RWD currently starts at $44,990 before federal and local tax credits, while the Long Range AWD and the Performance trims start at $47,990 and $51,490, respectively. Tesla’s Model Y comprised over a third of all Q1 EV sales in the U.S. What are your thoughts?

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Kia’s affordable EV3 officially spotted in the US ahead of its upcoming debut [Images]

Baua Electric

The EV3 is a cornerstone of Kia’s plans to secure its future position in the auto industry. Kia EV3 GT-Line (Source: Kia) Kia’s EV3 caught testing in the US Kia is expected to build EV3 models in Mexico to take advantage of the federal EV tax credit. Here’s when we can expect to see Kia’s new affordable EV in the US.

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LG Energy Solutions & Hyundai team up for battery plant in the United States

Teslarati

billion The parties agreed to produce EV batteries so Hyundai could accelerate its electrification efforts in North America. The battery plant would allow Hyundai electric vehicles (EV) to qualify for the Inflation Reduction Act’s (IRA) $7,500 tax credit.

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Biden rumored to announce quadrupling of tariffs on Chinese EVs, up to 100%

Baua Electric

This isn’t the first move that Biden has made to limit the ability of the Chinese auto industry to operate in the US. The Inflation Reduction Act which updated the US EV tax credit included protectionist measures to disallow Chinese-sourced EVs from taking advantage of the credit.

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Li-ion Polymer Battery Maker Kokam America Is Partner of Choice for Smith Electric Vehicles US; Kokam JV With Dow Targeted at Scaling Up Production

Green Car Congress

When Smith Electric Vehicles US Corp (SEV-US) announced on 27 March its selection of Kansas City, Missouri as the site for its US assembly plant for electric commercial vehicles ( earlier post ), SEV-US CEO Bryan Hansel named Kokam America (also based in Missouri) as the electric vehicle company’s battery “ partner of choice. ” Don Nissanka.

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The Congressional Review Act and its potential impact on EV tax credits

Plug in America

auto industry globally competitive. history, offering tax credits on energy-efficient electric heat pumps, home energy efficiency improvements, rooftop solar or battery storage, and–our personal favorite–clean vehicle tax credits for both new and used EVs. As a result, the EV tax credits are complicated.