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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.

2015 BMW X6 M First Drive [w/video]

Please forgive my bluntness, and allow me to cut to the heart of the X6-dissenter argument right at the top. Yes, BMW will sell you a 2015 BMW X5 M that is the motive twin (I assume) of the X6 M you're here to read about, that is also cheaper, roomier, and more conventional in appearance. For many of you – especially the old guard that hears the descriptor "Sports Activity Coupe" and proceeds to unlock the gun cabinet – that's all you need to hear. Because, although the fickle community that consumes and comments on internet car culture seems to be fine with typical-looking SUVs and wagons packing performance-enhancing goodies, the idea of slanting the back of one turns them right off. And yet, BMW continues to sell the things; more than 250,000 units have be delivered in the X6 series' history. As if that weren't proof of concept enough, blood-rival Mercedes-Benz has unleashed the GLE, a coupe-like crossover of its own, complete with AMG pedigree. All of this brought me to Austin, TX, home of Hill Country, The Circuit of the Americas and the 2015 X6 M launch. On both road and track I found a car that was more powerful and blithely capable than ever, while also being exactly as weird to drive as it is a concept to comprehend. Given that the X5 M exists, and offers styling that is more like normal for the SUV genre, both the lovers and the haters of the X6 M are likely to be focused on the way it looks. Here, the 2015 model isn't very much changed from the original, meaning you aren't liable to change sides on the styling debate for this refresh. The '15 model has a slightly fewer black accents on the exterior, along with revised front and rear fasciae and vented (and chromed) front fender gills. The car is almost two inches longer than the existing model, but is near enough the same size in every other direction that you'd have to study the specification sheet to know different. Inside the X6 M that I tested was a beautiful, fully optioned cabin that boasted gripping sport seats and BMW's wide, easy-to-read infotainment screen. The leather-wrapped everything and carbon-fiber trim were both well executed, and my hands rejoiced at the feeling of the thick-rimmed, serious-looking steering wheel. Veterans of the current M5 or M6 will see a lot that looks familiar here, but to my eyes that's high praise. The most impactful changes aren't visual but visceral.

BMW's plans for next plug-in i model, due after 2020

BMW entered the fight in the green car ring with gusto thanks to the one-two punch of the i3 and the i8. However, it seems that there could be a wait ahead before the German's i sub-brand is ready to land another strike at the market. "We are still in the strategic research phase where we brainstorm," Klaus Frohlich, BMW Group development boss, said to Automotive News Europe about the future vehicle. He indicated the next new model to bear the i prefix wouldn't arrive until after 2020. Frohlich also underscored that the sub-brand's products wouldn't be based on a standard BMW product. The German brand was at one point rumored to have a model called either the i5 or i7 on the way that would have added a plug-in hybrid drivetrain to the 5 Series. Frohlich's statement would seem to invalidate that possibility. Although, there's nothing stopping the vehicle from carrying regular BMW branding in the vein of the X5 xDrive40e PHEV. The current i-badged models won't just stagnate on the market in the meantime, though. "We have a minimum 20 percent battery density improvement every three years, thus over the i3 and i8's life cycle, we will offer more performance, more range or a combination of the two," Frohlich said to Automotive News Europe. Sadly, current owners won't be able to upgrade to the improved parts, though. Rumors about a third i sub-brand model go back years with much of the talk swirling around the i5. In addition to the speculation about a 5-Series-based version, there was also supposed to be a stretched variant of the i3 with that name, possibly even with a hydrogen fuel cell version. Although, BMW claimed the vehicle was purely "hypothetical." Related Video: