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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.

Carlos Ghosn's new lawyer, 'the Razor,' starts slashing

TOKYO — Carlos Ghosn's new lawyer took aim at Nissan, prosecutors and courts on Wednesday, dismissing the charges against the ousted chairman as an internal company matter and saying Japan was out of step with international norms by keeping his client in jail. "This should have been dealt with as an internal matter," Junichiro Hironaka, nicknamed the Razor, said at his first press briefing. Ghosn, who was arrested in November over alleged financial misconduct and remains in detention in a Tokyo jail, picked a new team last week with long-time defense attorney Hironaka as a key member to replace Motonari Otsuru, a lawyer who once ran the prosecutor's office investigating him. Hironaka's combative style contrasts with the low-key approach adopted by media-shy Otsuru. Ghosn's switch to an aggressive legal strategy came after his attempts to win bail failed and just before lawyers were due to sit down with prosecutors and judges for the first time to hash out a schedule for pre-trial discovery meetings, where prosecutors will reveal evidence and submit a list of witnesses. Hironaka said he didn't know why Ghosn picked him, but added that Ghosn probably wanted an experienced criminal lawyer as the case moved toward trial. The 73-year-old defense attorney is reputed for winning high profile cases, including the acquittal of a senior lawmaker, Ichiro Ozawa, on financial misconduct charges. He also helped free a senior bureaucrat Atsuko Muraki who was jailed for four months on corruption charges fabricated by prosecutors. Yet, even with greater legal firepower the former Nissan Motor Co boss faces a criminal justice system where only three out of every 100 defendants pleading not guilty are acquitted. Neither does Japan have a plea-deal mechanism that would allow Ghosn to agree to lesser charges for a lighter sentence. "The change in lawyers means a change in style, but the legal strategy will still be the same. I don't think it increases Ghosn's chance of an acquittal," said Masashi Akita, a defense lawyer at Shin-Yu Law Office in Osaka, ahead of Wednesday's comments by Hironaka. Ghosn has lost his perch atop an automotive alliance trio of French carmaker Renault SA and Japanese automakers Nissan and Mitsubishi Motors Corp. Attempts to win bail, including an offer to wear a GPS ankle bracelet and hire security guards to stop him trying to tamper with evidence, failed.

Recharge Wrap-up: Mitsubishi Outlander PHEV Finishes AXCR, Nissan Leafs drive 528 million collective miles

The Mitsubishi Outlander PHEV has successfully completed the Asia Cross Country Rally 2014. The plug-in Mitsu finished first in the EV class, and 14th overall, clocking in at 19 hours, 17 minutes and 12 seconds. For its second year in the competition, the Outlander PHEV used a new suspension with more ground clearance to help it tackle the race's treacherous terrain. Besides the glory of taking on the challenging competition, the rally helped Mitsubishi gather valuable data for EV development. The race took place over 1,367 miles of varied terrain from Thailand to Cambodia. Read more at Hybrid Cars, or visit Mitsubishi UK's Facebook page. Nissan Leaf drivers have driven more than 528 million miles worldwide. That accounts for a reduction of 150,000 tons of carbon dioxide emissions since the EV's 2010 launch. Nissan projects that Leaf drivers will surpass a collective 1 billion electric kilometers (621 million miles) by January 2015, or perhaps even sooner if sales keep increasing. The mileage data was collected through the car's CarWings telemetry. Read more at Green Car Congress. 40 percent of luxury cars will be powered by some form of electrification by 2030, according to Audi. Whether it's battery-electric, hybrid, or plug-in hybrid, electrons will be doing their share to get the well-heeled from place to place. According to an article at The Sydney Morning Herald, PHEVs are "the most promising option." The BMW i8 is a fine example, as is the Porsche Panamera S E-Hybrid, and Audi and Mercedes-Benz have plug-in plans of their own. Lexus, not so much. Read more at The Sydney Morning Herald. PGA golfer Hunter Mahan has taken delivery of a BMW i3 he won by scoring a hole-in-one. BMW offered a free, all-electric i3 to the first player to score a hole-in-one in the 2013 BMW Championship at Conway Farms Golf Club, which Mahan did on the 17th hole. The BMW Championship raised money for Evans Scholars Foundation. BMW Hole-in-One Scholar Melyzjah Smith, who was awarded a full four-year college tuition and housing scholarship in honor of Mahan's slick shot, was on hand to meet the golfer as he received his i3. Read more in the press release below. Uber has hired President Obama's 2008 campaign manager as its senior vice president of policy and strategy. David Plouffe will help the ride-hailing app navigate government policy and relations. The Taxicab, Limousine and Paratransit Association didn't think the move was a good one.