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US Congress lets $8,000 hydrogen vehicle tax credit expire

When Toyota introduced the 2016 Mirai last month in preparation for a launch late next year, it said that the hydrogen car will have a $57,500 MSRP and that there will be a federal tax credit available worth up to $8,000. The problem, as we noted at the time, is that that federal credit was set to expire at the end of 2014. The technical language of the current rule says that someone who buys a fuel cell vehicle, "may claim a credit for the certified amount for a fuel cell vehicle if it is placed in service by the taxpayer after Dec. 31, 2005, and is purchased on or before Dec. 31, 2014." With the 113th Congress now finished up for the year and legislators headed home for the holidays, we know one thing for certain: the federal tax credit for hydrogen vehicles was not updated and will end as we're all singing Auld Lang Syne next week. All of this isn't to say that Mirai buyers won't be able to take $8,000 off the price of the car 12 months from now. For proof of that, we only need to look at other alternative fuel tax incentives and realize that this Congress simply isn't moving fast enough to deal with things that are expiring right now. One of the last things that the 113th Congress did in December was to take up the tax credits that expired at the end of 2013 and renew some of them. Jay Friedland, Plug In America's senior policy advisor, told AutoblogGreen that PIA and other likeminded organizations worked with Congress to extended the electronic vehicle charging station (technically: EVSE) tax credit that was part of the Alternative Refueling Tax Credit in IRS Section 30(C) through the end of 2014. "Individuals can deduct 30 percent of the cost of purchasing and installing an EVSE up to $1,000; businesses, 30 percent up to $30,000," he said. "This tax credit is applied to any system placed into service by 12/31/14 and is retroactive to the beginning of the year. So go out and buy your favorite EV driver an EVSE for the holidays," he said. An electric motorcycle credit was killed at the last minute as Congress was getting ready to leave, but H.R. 5771 did extend the Alternative Fuels Excise Tax Credits for liquefied hydrogen and other alternative fuels. These sorts of tax credit battles happen all year long. In July, Blumenthal introduced the Fuel Cell and Hydrogen Infrastructure Act of 2014, which never got out of the Finance Committee. Back to the hydrogen vehicle situation.

Honda to spool up turbos, workforce with F1 tech

Honda has had a longer and more tumultuous relationship with Formula One than just about any other automaker. It had only been building cars for four years before it entered F1 in 1964 as the first Japanese team in the series, winning its first race the following season but shuttering the program a few years later. Honda came back to power the likes of Williams and McLaren to several World Championships in the '80s and '90s, but things took a downturn when it started a partnership and ultimately took over British American Racing. After pouring untold billions into the effort, the economy tanked, and Honda ultimately sold the team, which subsequently claimed the championship - under new ownership and Mercedes power. Now Honda is gearing up to return in 2015 with a new turbocharged V6 hybrid powertrain it's supplying initially to McLaren, which in turn is switching back to Honda from nearly two decades with Mercedes.
So why return to F1 now? That's precisely what Autoblog asked Honda's Global President and Chief Executive Takanobu Ito (pictured above with McLaren chief Martin Whitmarsh) while visiting his office in Tokyo. While he wouldn't reveal specifics (like when his company's new engine would be available to other teams, as it most certainly will in the long run), Ito-san was clearly happy to discuss the motivation behind the move and the value he feels it brings to the company and its products.
Ito pointed toward the proliferation of motors within Honda's powertrains as a development he hopes to take to road from track

Honda getting in on the Daytona Prototype racing action

Racing fans at Sebring are plenty used to seeing Honda powering into the winner's circle, the Japanese motor company having claimed class victories at the endurance race in Florida in 2007, 2009, 2011, 2012 and 2013. Those were all in the LMP2 category, but with the Twelve Hours of Sebring now part of the combined United SportsCar Championship, Honda is branching out into another class: Daytona Prototypes.
The purpose-built racing machinery that were once part of the Grand-Am series are now racing alongside the LMP2 prototypes from the American Le Mans Series under the united championship. So far Ford and Chevy have signed on to power the Daytona Prototypes, and now Honda's joining their ranks as the only manufacturer to field entries in both categories of the championship's Prototype class.
The competition-spec 3.5-liter twin-turbo V6 revealed last month is based on the same J35 engine that powers everything from the Honda Accord to the Acura RLX and MDX. Now it will power the Riley chassis fielded by Starworks Motorsports, competing alongside the pair of Honda Performance Development (HPD) ARX-03b chassis which Extreme Speed Motorsports will campaign under LMP2 regulations, giving Honda a two-pronged, three-car assault on the top class of the new American sports car racing series.