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GM, Ford, Toyota, Stellantis CEOs want EV tax credit cap lifted

For just over a decade now, the U.S. has had a federal tax credit worth up to $7,500 for buyers of electric cars and plug-in hybrids. The catch has been that, once 200,000 of them were claimed for a manufacturer, that credit would be phased out. Now, automakers are asking for this cap to be lifted across the board, specifically General Motors, Ford, Toyota and Stellantis. The request comes in the form of a joint letter to Congress (which you can read here), signed by the CEOs of each company. And the ask really is as simple as that. The automakers would like the cap lifted for all EV manufacturers, and instead have a sunset date for the tax credit put in place. Broadly speaking, they want it lifted because of concerns about rising costs from materials and supply chain issues, which can lead to higher prices and could discourage buyers from getting an EV. It would also put automakers back on an even playing field. GM reached its tax credit cap a few years ago, meaning that none of its EVs are eligible for the tax credit. So while it reaped the benefits early on, it now has something of a disadvantage to competitors with credits remaining, such as those that signed on to this letter. GM wouldn't be the only beneficiary. Tesla ran out of credits years ago, too. Nissan still has credits, but likely not for much longer, as InsideEVs reports around 190,000 Leafs have been sold in the U.S. as of April. So it will probably face a phase-out soon, just as the anticipated, and more expensive, Ariya is heading to market. Making this change would also seem like a good choice for continuing to stimulate EV sales, if that's what the government is looking to do. While EVs are now reaching parity in practicality and performance with gas-powered cars, having an additional financial incentive will surely keep them looking more attractive. And automakers can push EVs without fear of running out of credits early. Certainly some sorts of changes to the EV tax credit are likely. There are bills in the works focusing on cap changes as well as the amount of money available, and which vehicles are eligible. Credits up to $12,500 have been proposed, plus possible credits for used EV sales and restricting some credits to vehicles of certain price brackets. Of course, any changes will require some cooperation in a deeply divided Congress. Related Video: Government/Legal Green Chevrolet Chrysler Ford Toyota Electric EV tax credit

Toyota celebrates 30th anniversary of Land Cruiser 70 with Japan rerelease [w/videos]

It's a common refrain among auto enthusiasts to bemoan the current models being sold for being overly complex and expensive and to wish that automakers would just make vehicles like the old days. Sure, they might not have been as safe or efficient, but there was often a certain rugged simplicity that's gone today. Well, Toyota is actually doing it and thinks there's enough demand to put the Land Cruiser 70 back into production in Japan for its 30th anniversary. Sadly, it's only for one year.
The original Land Cruiser 70 served a long life in Japan from 1984 to 2004. Even today, the proven model remains in production in some regions abroad. People in its home country still love the vehicle though, and Toyota is brushing off the mothballs to give customers what they want. For the first time ever there, it's also offering the double-cab pickup version in addition to the traditional enclosed body. The company thinks that it can move about 200 of these classic trucks this year, which isn't too shabby for a vehicle that's three decades old.
Looking at the pictures above, these look like the same old Land Cruisers, but Toyota is updating them slightly to meet modern safety rules. The grille, hood and headlights are all tweaked, and they now come with airbags and anti-lock brakes. A 4.0-liter V6 is under the hood making 228 horsepower (170 kilowatts) and 266 lb-ft of torque (360 Newton-meters), and the only available gearbox is a five-speed manual. Part-time four-wheel drive is standard. If you're really afraid of getting stuck in the wilderness, locking front and rear differentials and a winch are available as options.

Toyota's production fuel cell car to cost between $50-100k

While the cost of building a hydrogen fuel cell vehicle continues to go down over time, reports over the last few years have steadily maintained that the first Toyota hydrogen-powered vehicles for customers should ring up for around $50,000. Company officials cited this figure way back in 2010, and have reiterated it in subsequent years.
So, while a recent Automotive News report about the cost of Toyota's 2015 Hydrogen car doesn't offer up any new figures, it does offer an interesting pricing wrinkle. According to the report, the "cost factor" for the hydrogen vehicles will be in the $50k ballpark, meaning the retail price could be anywhere from there, up to as much as around $100,000.