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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.

The Nissan Patrol may become America's next Armada

Plausible rumors are swirling that the Nissan Patrol, the Land Cruiser rival sold outside of North America, might come to the US as a replacement for the unrelated Nissan Armada. That large SUV's future was left ambiguous after the news of the Xterra's discontinuation, as Nissan's press release ominously promised information on the Armada "at a later date" without further elaboration. That left us scratching our heads and thinking that, perhaps, it would be quietly killed off in the future. If the rumors are true, it will be. And then it will be reborn. It'll join its old platform-mate, the Infiniti QX80, on the Patrol platform. The QX abandoned its Titan-based platform in 2011, becoming the Patrol-based QX80. So you can think of the Armada as catching up, a few years late. The QX80 was refreshed last year, a mainly cosmetic nip-and-tuck. The Infiniti utilizes the 5.6-liter, 400-hp V8 and a 7-speed auto, so it's a safe bet that this powertrain will make it into the Armada version. Less likely, but plausible, would be the availability of the new powertrains intended for the Titan XD and upcoming lower-grade Titans. The massive SUV market tends to be a bit conservative, so the Cummins diesel V8 that's the sole engine in the Titan XD right now seems unlikely. The forums are abuzz with a photo of what's purported to be a leaked marketing image of the new Armada, so head to this TitanXDForum thread if you'd like to see what that's about. (Spoiler: it looks a lot like the Patrol above, minus some of the Nismo flair.) Related Video:

2015 Nissan GT-R Nismo gets official

Behold the 2014 Nissan GT-R as dressed by Nismo and inspired by the GT3-spec race car that competed in this year's Nürburgring 24-hour race. Called the "ultimate iteration of Nissan's GT-R supercar," power goes up by 55 horsepower to 600 hp with updates like high-flow, large diameter turbos, and torque is "over 480 pound-feet," which means it's risen by at least 35 lb-ft.
Helping to keep it right-way up and pointed in the right direction are a race-tuned suspension with a larger, hollow anti-roll bar, custom Bilstein DampTronic dampers and the use of high-rigidity bolts. Outside, a new aero package from the wider front carbon bumper to the carbon rear spoiler above a longer, tapered rear bumper creates an additional 220 pounds of downforce at 186 miles per hour compared to the standard GT-R. Rumors of a 'Ring time of 7:08 abound, we'll get the truth - and we assume some video - very soon.
The bodyshell construction uses adhesive to improve rigidity, and behind those windows are carbon fiber Recaro buckets - in Europe and Japan, at least - and an Alcantara-wrapped wheel. It goes on sale next year, but you can get to know more about it right now in the press release below.