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

Inflation Reduction Act mandates escalating battery critical mineral requirements to qualify for EV tax credit

Green Car Congress

The Inflation Reduction Act , which the Senate passed last week, revamps the electric vehicle Federal tax credit of $7,500 ( earlier post ). Among the changes are an extension of the tax credit through 2032, the removal of the unit-sales cap of 200,000 per OEM, and a new mandate for qualified cars being assembled in North America.

article thumbnail

Fisker reveals production-intent version of Fisker Ocean at LA Auto Show

Green Car Congress

Fisker revealed its Fisker Ocean electric SUV at the Los Angeles Auto Show. The base Fisker Ocean Sport trim level is priced at $37,499, before federal and state tax credits. The Fisker Ocean is being manufactured by Magna-Steyr at a carbon-neutral factory in Graz, Austria.

Fisker 449
article thumbnail

Thousands of auto dealers sign up to offer new on-the-spot tax credit

Electrek

New year, new rules: As of January 1, things are about to get a little easier when it comes to getting your federal tax credit for buying an electric vehicle. And auto dealers are signing up in droves with the IRS. more… The post Thousands of auto dealers sign up to offer new on-the-spot tax credit appeared first on Electrek.

article thumbnail

Nissan cuts entry-level MSRP for 2013 LEAF by 18% to $28,800

Green Car Congress

Depending on location, some consumers may purchase the 2013 LEAF for as low as $18,800 with qualifying federal and state tax credits, putting the LEAF on par with gas-powered vehicles of its size. Eligible consumers can take advantage of a $7,500 federal tax credit, and some states and municipalities offer additional incentives.

2013 360
article thumbnail

Hyundai, Kia, Genesis EVs now qualify for the $7,500 US tax credit for the first time

Electrek

Hyundai Motor Group electric vehicles, including Kia and Genesis models, now qualify for the $7,500 EV tax credit for the first time. The Korean auto giant now has five eligible EVs as it looks to play an even bigger role in the US.

article thumbnail

Hyundai and Kia EVs are set to regain the $7,500 US tax credit

Electrek

In a rollercoaster turn of events, Hyundai and Kia EVs are expected to again qualify for the full $7,500 federal tax credit. With new models rolling out this year, the Korean auto giants expect another big year in the US in 2025.