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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.

Hot Wheels' 2022 Green Speed cars bring EVs to small scale

With more and more EVs hitting the market, it was only a matter of time before the new breed of cars would find representation in diecast form. For 2022, Hot Wheels is coming out with a new Green Speed series that puts the spotlight on a diverse lineup of electric cars. The five-car series features a fun mix of EVs from different manufacturers and in a wide range of styles. Some are completely bone stock. For a traditional luxury sedan, there's a Lucid Air in silver, complete with glass (or in this case, clear plastic) canopy. For fans of Teutonic 4-door "coupes" there's the Audi RS e-Tron GT in Daytona Gray. Ticking the truck box is a Hummer EV in a yellow that can only be described as a throwback to the H3. But because this is Hot Wheels, there are "hot-rodded" variants in the lineup as well. Rather than just a regular Nissan Leaf, they've elected to cast the carbon fiber-bodied NISMO RC 2.0 race car. Likewise with Ford, instead of the standard Mustang Mach-E, they've gone with the Mustang Mach-E 1400 drift car. This isn't the first time Hot Wheels has put out a Green Speed series. The line debuted in 2016 but reflected the limited EV choices in the real car market at the time. The only non-fantasy cars in the series were a first-gen Tesla Roadster, a Tesla Model S, and Chevy Volt. Hot Wheels revisited the line again in 2019, this time adding a Tesla Model 3 and a Porsche Panamera Turbo S E-Hybrid Sport Turismo. Hot Wheels also makes other mini EVs that don't fall into this specific line of models. If you want to collect 'em all, there's the second-generation Tesla Roadster concept, Cybertruck, Jaguar I-Pace, Pininfarina Battista, Porsche Taycan, and a Volkswagen ID R. Similarly, Matchbox has released a version of the Tesla Roadster with sustainable packaging to boot. If you must have an old school gasoline burner, Hot Wheels has plenty of options for you too, like, say, this snazzy FJ60 Toyota Land Cruiser. The 2022 Hot Wheels Green Speed series should be on shelves at your local retailers now. Related Video:

L.A. Auto Show: Genesis X Convertible, Toyota Prius and more | Autoblog Podcast #756

In this episode of the Autoblog Podcast, Editor-in-Chief Greg Migliore is joined by Senior Editor, Green, John Beltz Snyder. The Los Angeles Auto Show wrapped up this week, and we talk about some of the highlights from the show, and the events surrounding it, like the new Toyota Prius, Genesis X Convertible concept, new Lucid Air trims and the Lucid Gravity SUV. John talks about traveling to Sweden for the reveal of the Volvo EX90. They also talk about the cars they've been driving, including the Nissan Leaf, Nissan Kicks, Mercedes EQB and Jeep Wagoneer. They also shoot the breeze about late fall beer, courtesy of an email from a listener. Send us your questions for the Mailbag and Spend My Money at: Podcast@Autoblog.com. Autoblog Podcast #756 Get The Podcast Apple Podcasts – Subscribe to the Autoblog Podcast in iTunes Spotify – Subscribe to the Autoblog Podcast on Spotify RSS – Add the Autoblog Podcast feed to your RSS aggregator MP3 – Download the MP3 directly Rundown 2022 L.A. Auto Show 2023 Toyota Prius Genesis X Convertible concept Lucid Air Pure and Touring Lucid Gravity SUV Volvo EX90 Cars we're driving Nissan Leaf Nissan Kicks Mercedes-Benz EQB 300 Jeep Wagoneer Feedback Email – Podcast@Autoblog.com Review the show on Apple Podcasts Autoblog is now live on your smart speakers and voice assistants with the audio Autoblog Daily Digest. Say “Hey Google, play the news from Autoblog” or "Alexa, open Autoblog" to get your favorite car website in audio form every day. A narrator will take you through the biggest stories or break down one of our comprehensive test drives. Related video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.