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

Green Car Congress

Several states offer tax incentives to reduce the upfront cost of PEVs to consumers. 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. Electric vehicles per 1,000 vehicles.

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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. President Obama announced the award of $2.3 The 183 projects in 43 states include several for the manufacturing of advanced batteries; biomass projects; and vehicles.

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ALTe LLC Approved to Receive an $8.4M MEDC Tax Credit for Electric Powertrain Development, New Facility in Auburn Hills

Green Car Congress

Michigan-based electric powertrain company ALTe LLC ( earlier post ) was approved to receive a tax credit valued at $8.4 ALTe is developing light- and medium-duty series plug-in hybrid electric vehicle powertrain systems—initially as conversions, but ultimately extending to an OEM basis.

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Electrification Coalition Roadmap Calls for 75% of Light-Duty Vehicle Miles Traveled in the US to Be Electric by 2040

Green Car Congress

The Electrification Roadmap calls for 75% of light-duty VMT in the US to be electric by 2040. Achieving this will require a minimum of 25% of new light-duty vehicles purchased in the US to be grid-enabled vehicles (GEV) by 2020. As a result, oil consumption in the light-duty fleet would be reduced to just 2.0 Click to enlarge.

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Cadillac ELR EREV goes on sale in January, starting price $75,995

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Upon IRS certification of an anticipated federal tax credit, purchasers may be eligible for a tax credit from $0 to $7,500 depending on individual tax liability. Net pricing after tax credits could be as low as $68,495, including $995 destination. Official EPA estimates are not yet available.

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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.

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