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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.

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2010 Ford Fusion Hybrid Qualifies for $3,400 Tax Credit

Green Car Congress

Buyers of a new 2010 Fusion Hybrid or Mercury Milan Hybrid this year will qualify for a $3,400 tax credit. The credit amount is based on a vehicle’s potential fuel efficiency. The Fusion Hybrid carries a 41 mpg rating in the city and 36 mpg on the highway. Ford Hybrid Tax Credit Amounts.

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Prius Plug-In eligibile for a $1,500 California consumer incentive plus $2,500 Federal tax credit

Green Car Congress

Designed to promote the use of Zero Emissions Vehicles (ZEV) and related clean vehicle technologies, the CVRP is a consumer incentive made available in addition to a $2,500 Federal Tax credit. These grants are available when a vehicle is either purchased or leased for 36 months or longer.

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2020 Audi A8 TFSI e plug-in hybrid carries starting price of $94,000

Green Car Congress

Audi is pricing its 2020 A8 TFSI e plug-in hybrid with a MSRP of $94,000 in the US. Joining the flagship sedan model line, the Audi A8 TFSI e serves as the first plug-in hybrid variant of the A8. Audi anticipates that customers purchasing the 2020 Audi A8 TFSI e will be eligible for a federal tax credit of up to $6,795.

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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

Green Car Congress

It also finds that, while relying on subsidies for electric or hybrid vehicles is politically attractive, it is an extremely expensive and ineffective way to significantly reduce greenhouse gas emissions in the near term. Purchase tax credits are an expensive way to reduce oil consumption and GHG emissions from transportation.

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EIA: California home to almost half of US plug-in electric vehicles

Green Car Congress

Total US sales of plug-in electric vehicles (PEVs)—battery electric and plug-in hybrid electric—have increased in recent years, but still represent only about 0.7% These incentives are in addition to a federal (nationwide) tax credit, which ranges from $2,500 to $7,500 depending on battery capacity and gross vehicle weight.

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

Green Car Congress

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. President Obama announced the award of $2.3 Aerovironment, Inc.