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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.

Was the C7 Corvette cut from Beyonce's Super Bowl halftime show?

Someone was bound to receive a free 2014 Chevrolet Corvette Stingray during the Super Bowl XLVII festivities; it just wasn't who we thought it was going to be. Despite a report back in December that superstar Beyoncé Knowles would be getting an all-new Corvette during her halftime performance, that turned out not to be the case. Joe Flacco, starting quarterback for the Baltimore Ravens, did in fact win a Corvette for his MVP performance.
So what transpired that prevented Beyoncé from rolling on stage in the new Chevrolet? Anyone who knows isn't telling, but according to Yahoo! Autos, General Motors said that for one reason or another a deal "did not work out," and it appears to have been an eleventh-hour change. Regardless of who's to blame or what prevented this from happening, we're sure Chevy has had no problems getting attention for the C7 Corvette since it was introduced last month.

2015 Chevy Colorado gets its GearOn before Chicago

Complementing the Chevrolet Silverado Midnight Edition at the 2015 Chicago Auto Show is this, the 2015 Colorado GearOn Edition, which as the name might suggest, takes full advantage of the company's truck accessory catalog. Available on the volume LT trim and in both crew and extended cab varieties and with both the short and long-bed options, the GearOn Edition adds plenty of nifty extras designed to increase the truck's versatility and help accommodate bikes, kayaks and other outdoorsy items. The GearOn bars package, divider package and tie-down rings are supplemented an "EZ" lift and lower tailgate, side steps, gloss black 18-inch wheels, a body color grille, and blacked-out Chevy badges. And although it's not specifically called out in the attached press release, the paint on this special edition looks different than anything else in the truck's catalog. We dig it, especially with the black accents. Prices, meanwhile, start at $31,250, which is not even $1,200 more than a Colorado Extended Cab LT 4x4. We'll have more on the Colorado GearOn when it makes its debut later this week at the 2015 Chicago Auto Show, including live images to add to the pair of stocks distributed by Chevy. Until then, scroll down for the press release on the limited-edition truck. Chevy Colorado GearOn™ Edition Brings More Adventure Versatile accessories package maximizes cargo capability; enables more fun DETROIT – Chevrolet today introduced the 2015 Colorado GearOn™ Special Edition, which blends the capability of the all-new midsize pickup truck with the versatility of the GearOn accessory system – and additional popular features. It makes its public debut Feb. 13-22 at the Chicago Auto Show. The Colorado GearOn Special Edition goes on sale this spring with a starting price of $31,250. It's offered on LT models in extended or crew cab configurations, with the long or short cargo bed and available 4WD. "Chevrolet Colorado answers the call for customers who have passions of all types and the GearOn accessory system enables them to bring more adventure wherever they go," said Tony Johnson, Colorado marketing manager. "And with Colorado offering segment-leading efficiency and capabilities, it's a combination that maximizes adventure without compromise." The GearOn accessory system is designed for easy configuration with a multitude of mounting accessories for everything from bikes, kayaks, skis and stand-up paddle boards to a bed-mounted tent.