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VW, Rivian, Nissan, BMW, Genesis, Audi and Volvo lose EV tax credits starting tomorrow

The U.S. Treasury said Monday that Volkswagen, BMW, Nissan, Rivian, Hyundai and Volvo electric vehicles will lose access to a $7,500 tax credit under new battery sourcing rules. The Treasury said the new requirements effective Tuesday will also cut by half credits for the Tesla Model 3 Standard Range Rear Wheel Drive to $3,750 but other Tesla models will retain the full $7,500 credit. Vehicles losing credits Tuesday are the BMW 330e, BMW X5 xDrive45e, Genesis Electrified GV70, Nissan Leaf , Rivian R1S and R1T, Volkswagen ID.4 as well as the plug-in hybrid electric Audi Q5 TFSI e Quattro and plug-in hybrid (PHEV) electric Volvo S60. The Swedish carmaker is 82%-owned by China’s Zhejiang Geely Holding Group. The rules are aimed at weaning the United States off dependence on China for EV battery supply chains and are part of President Joe Biden's effort to make 50% of U.S. new vehicle sales by 2030 EVs or PHEVs. Hyundai said in a statement it was committed to its long-range EV plans and that it "will utilize key provisions in the Inflation Reduction Act to accelerate the transition to electrification." Rivian declined to comment and the other automakers could not immediately be reached for comment. Treasury also disclosed General Motors electric Chevrolet Bolt and Bolt EUV will qualify for the full $7,500 tax credit. GM said earlier it expected at least some of its EVS would qualify for the $7,500 tax credit under the new rules, including the 2023 Cadillac Lyriq and forthcoming Chevrolet Equinox EV SUV and Blazer EV SUV. Treasury said all GM EVs will qualify. Earlier, Ford Motor and Chrysler-parent Stellantis said most of their electric and PHEV models would see tax credits halved to $3,750 on April 18. Treasury confirmed the automakers' calculations. The rules were announced last month and mandated by Congress in August as part of the $430 billion Inflation Reduction Act (IRA). The IRA requires 50% of the value of battery components be produced or assembled in North America to qualify for $3,750, and 40% of the value of critical minerals sourced from the United States or a free trade partner for a $3,750 credit. The law required vehicles to be assembled in North America to qualify for any tax credits, which in August eliminated nearly 70% of eligible models and on Jan. 1 new price caps and limits on buyers income took effect.

BMW i8 recalled over possible fuel leak

Some 223 examples of the 2014 BMW i8, built between May 16, 2014 and September 16, 2014, are being recalled over a potential fuel leak. A bolt used to secure a ground cable from the chassis structure to the fuel tank could have been welded improperly; if so, gas might leak from the tank. The recall began in November, so if any of you owner types aren't aware by now, you can take your i8 to the dealer for replacement of the fuel tank if necessary. A bulletin from the National Highway Transportation Administration below has more details. Related Video: Report Receipt Date: OCT 27, 2014 NHTSA Campaign Number: 14V674000 Component(s): FUEL SYSTEM, GASOLINE Potential Number of Units Affected: 223 Manufacturer: BMW of North America, LLC SUMMARY: BMW of North America, LLC (BMW) is recalling certain model year 2014 i8 vehicles manufactured from May 16, 2014, to September 16, 2014. A bolt used to attach a ground cable between the tank and the vehicle chassis may not have been properly welded during manufacturing. CONSEQUENCE: An inadequate weld of the bolt to the fuel tank could cause a fuel leak. In the presence of an ignition source, a fuel leak could lead to a fire. REMEDY: BMW will notify owners, and dealers will inspect and replace the fuel tank if necessary, free of charge. The recall began in November 2014. Owners may contact BMW customer service at 1-800-525-7417 or CustomerRelations@bmwusa.com. NOTES: Owners may also contact the National Highway Traffic Safety Administration Vehicle Safety Hotline at 1-888-327-4236 (TTY 1-800-424-9153), or go to www.safercar.gov.

BMW's fuel cell coming after 2020

Honda made news earlier this week at the Tokyo Motor Show by announcing details of the what will be its first production hydrogen fuel cell vehicle earmarked for the US next year. As for BMW? Not so fast. The German automaker might start working on a fuel cell vehicle for one of its larger sedan lines, but don't expect it to see the light of day before 2020, Reuters reports, citing remarks made by BMW executive Merten Jung in Tokyo. Bimmer has been collaborating with Toyota on advancing fuel-cell technology since 2013, but any production vehicle from BMW would take place after that collaboration expires. In fact, one point Jung made was that the BMW fuel cell would be able to go further on a full tank (of hydrogen) than the Toyota Mirai's 300+ miles. Earlier this year, reports surfaced that BMW may have a fuel-cell vehicle ready before the end of the decade, and that it would likely be sold under Bimmer's i brand of advanced-powertrain vehicles. Additionally, this summer, videos started coming out showing a hydrogen fuel cell i8 prototype (a rather sporty one, actually) as well as a 5-series prototype, so getting a handle on BMW's plans for fuel cell vehicles is a bit of a moving target. As for Honda, the Clarity will be earmarked for fleet and business customers in Japan first before marketing starts for everyday drivers. We've got some brief first-hand impressions of what it's like to drive a Clarity prototype here.