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Proposed Changes to Federal EV Tax Credit – Part 2: End of the Manufacturer Sales Phaseout

EV Adoption

Arguably the biggest flaw in the Plug-In Electric Drive Vehicle Credit ( IRC 30D ) regulations is the triggering of a phaseout schedule of the tax credit when a manufacturer sells 200,000 total EVs (BEV and PHEV). Elimination of the Manufacturer 200,000 EVs Sold Phaseout Threshold.

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Tesla confirms new Model 3 Performance configuration is coming

Teslarati

It was the most expensive of the three Model 3 offerings, but it still qualified for the EV Tax Credit. In October, the Parts Catalog showed Tesla was potentially working on a Plaid version of the Model 3. Early in 2024, Tesla removed the Performance configuration from the Model 3’s list of available trims.

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Kia to launch affordable EV4 electric sedan next year with an ambitious production goal

Baua Electric

A new affordable EV is coming next year Kia unveiled the EV4 last October as part of its new lineup of mass-market electric vehicles. With Kia reportedly planning to build the EV3 in Mexico , federal incentives like the EV tax credit could drive prices even lower. According to Kia, the EV4 “redefines the electric sedan.”

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Michigan Adds Another $220M in Tax Incentives for Advanced Battery Companies

Green Car Congress

Granholm signed legislation that increases tax incentives for companies that develop and manufacture advanced batteries. The new law adds an additional $220 million in refundable tax credits for companies involved in the development and application of advanced-battery research, engineering, and manufacturing. Governor Granholm.

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How EV adoption is soaring in unlikely circumstances, and what could make it better

Teslarati

Price Parity and the EV Tax Credit. Luckily, consumers can take advantage of the Inflation Reduction Act, which will provide EV buyers with tax credits based on where their vehicle was manufactured and whether the car equips a U.S.-manufactured Automakers are pushing to produce battery packs and other parts in the U.S.,

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Volkswagen aims to debut new affordable electric vehicles in 2027 with prices around $22,000

Baua Electric

Meanwhile, after failing to find an agreement with VW, Renault still plans to launch a low-cost Twingo e-Tech successor, starting around the same price. The ID 1 will likely pull parts from the ID 2all with smaller battery options, like 38 or 58 kWh. With the tax credit, the current 2LT model starts at $35,795.

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Hyundai is launching two new electric cars in Europe, a low-cost EV and new IONIQ model

Baua Electric

Some parts of Europe, like Germany, ended subsidies on electric cars. Part of the confidence comes from two new EVs hitting the market. Hyundai’s Europe chief criticized Germany’s move to end EV incentives, saying it sent the wrong message about its support for the tech. billion Metaplant is expected to boost output.