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MIT study suggests carbon tax could help reduce US deficit, lower other taxes, reduce emissions

Green Car Congress

A new report from MIT’s Joint Program on the Science and Policy of Global Change suggests that a tax on carbon emissions could help raise the money needed to reduce the US deficit, while improving the economy, lowering other taxes and reducing emissions. They found that the tax would raise $1.5

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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.,

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Tesla and Toyota Intend to Work Jointly on EV Development, TMC to Take Equity Stake in Tesla; Tesla Purchases NUMMI Factory

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and Toyota Motor Corporation (TMC) intend to cooperate on the development of electric vehicles, parts, and production system and engineering support. TMC has agreed to purchase $50 million of Tesla’s common stock issued in a private placement to close immediately subsequent to the closing of Tesla’s currently planned initial public offering.

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Belfer Center Study Concludes Reducing Car and Truck GHG Emissions Will Require Substantially Higher Fuel Prices; Income Tax Credits for Advanced Alt Fuel Vehicles Are Essentially Ineffective at Reducing Sector Emissions

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Direct transportation (fuel) taxes generate the greatest reductions in CO 2 emission from transportation, achieving CO 2 emissions at 86% of 2005 levels by about 2025. The largest reductions in GHG emissions from transportation are obtained by increasing the cost of driving with fuel taxes, resulting in lower emissions in 2030 than in 2010.

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President Obama Awards $2.3B for Tax Credits for New Clean-Tech Manufacturing Jobs; GE Gets Largest Battery-related Award

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billion in Recovery Act Advanced Energy Manufacturing Tax Credits for clean energy manufacturing projects across the United States. Aeroenvironment plans to purchase equipment for manufacturing 25 kWh LiTiO advanced battery packs and battery management systems. Rogers Foam Automotive Corporation. Aerovironment, Inc.

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Electric Motors Corporation (EMC) Receives First Indiana Incentives to Launch Electric Automotive Technology

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million in tax credits and up to $200,000 in training grants to Electric Motors Corporation (EMC), based on the company’s plans to establish an electric vehicle industrial development park the state. The Indiana Economic Development Corporation and the Elkhart Economic Development Corporation provided support for the company’s request.

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Mitsubishi Motors to launch new Mirage global compact in Japan; 1.0L gasoline engine with 64 mpg US

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Mitsubishi Motors Corporation (MMC) will launch the all-new Mirage global compact car at dealerships throughout Japan on 31 August at an MSRP ranging from ¥998,000 to ¥1,288,000 (US$12,800 to $16,500). This trim level thus qualifies for 75% reductions in acquisition tax and motor vehicle weight tax at the time of purchase as an eco-car.

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