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New bipartisan bill in US Congress to expand EV and hydrogen fuel cell tax credits

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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., ITC Holdings Corp.,

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DOE awards $98M in tax credits to automakers and suppliers for clean technology manufacturing

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The US Department of Energy (DOE) announced $150 million in clean energy tax credits to 12 businesses to build US capabilities in clean energy manufacturing; $98 million of that goes to five automakers and suppliers towards investments in domestic manufacturing equipment. Funded at $2.3 Lead organization. Description.

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Michigan Awards $543.5M in Tax Credits to Four Battery Makers, Who Announce Plans for $1.7B Investment in Li-ion Battery Plants in Michigan

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The Michigan Economic Growth Authority (MEGA) Board awarded $543.5 million in tax credits to four battery companies announcing plans to invest more than $1.7 billion in Li-ion manufacturing facilities in the state. Michigan Governor Jennifer M. The MEGA board approved a state tax credit valued at $44.6

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Ford prices C-MAX Energi plug-in hybrid at $29,995 after federal tax credit; expects conquest rate of about 50%

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Its eligibility for a $3,750 federal tax credit drops that to $29,995. Both Prius Plug-in models qualify for a federal tax credit of $2,500. C-MAX Energi also is expected to qualify for additional tax credits up to $1,500 in California. The base MSRP for the Prius Plug-in Hybrid is $32,000.

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Michigan Approves Li-ion Maker Johnson Controls-Saft for Tax Credits, $20M Pack Credit

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The Michigan Economic Growth Authority (MEGA) board approved Johnson Controls-Saft Advanced Power Solutions LLC (JCS) for an Anchor Jobs incentive. Under this designation, a company that attracts or influences a supplier or customer to locate or expand in Michigan can qualify for tax credits. Earlier post.).

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

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Michigan-based electric powertrain company ALTe LLC ( earlier post ) was approved to receive a tax credit valued at $8.4 million over seven years from the Michigan Economic Development Corporation’s (MEDC) Michigan Economic Growth Authority (MEGA) board.

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A123 Systems 8K filing says substantial doubt about its ability to continue as a going concern; status of grants and incentives

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million to replace battery modules and packs that may contain defective prismatic cells produced at A123’s Livonia, Michigan manufacturing facility. million related to inventory produced at its Michigan facilities that may be defective. State of Michigan Center of Energy and Excellence Grant. Earlier post.).

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