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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.

Volvo's next-generation cars will feature gaming-derived graphics

Volvo joined forces with Epic Games, the company that created the Fortnite franchise, to give its next-generation cars a faster infotainment system with vastly improved graphics. Using technology gleaned from the world of gaming promises to unlock a long list of new features. Don't expect to see a Fortnite-themed display in the XC90's replacement; the partnership isn't going that far. Volvo explained that it will use the Unreal Engine, a real-time 3D creation tool developed for industries outside of the gaming world, to develop the digital interface it will program into future additions to its range. This technology will allow it to deliver richer colors, sharper renderings and new 3D animations. Good graphics aren't worth much if the software is annoying to use, so Volvo will power its next infotainment system with the third-generation Snapdragon Cockpit Platforms designed by Qualcomm. We're told that the end result is a system that's over twice as fast as the one Volvo currently uses, and whose graphic generation and processing capacities are up to 10 times faster. Volvo hasn't released a video of the software in action yet, but we won't have to wait long to see it: the feature will debut in a new flagship model due out by the end of 2022. This isn't the first time that Volvo has enlisted the help of a technology company to design an infotainment system. Its current cars (like the C40 Recharge) are fitted with Google's Android Automotive OS infotainment system. And, the worlds of gaming and in-car technology have collided before: Nissan notably asked Polyphony Digital, the company behind the Gran Turismo franchise, to design the GT-R's display. Featured Gallery Volvo's Epic Games-powered infotainment system Volvo Technology Infotainment

Volvo Concept Recharge previews the future of Volvo design and technology

Volvo has announced a whole slew of information about where the company is headed, from battery technology to advanced driver aids. And it was all capped by the concept car you see above, the Volvo Concept Recharge. It all shows that Volvo's future is stylish, electrified and featuring the latest in safety technology. So, in a way, pretty much exactly what you'd hope and expect. Volvo didn't say much about the specifications of the Concept Recharge, but its design will clearly influence future Volvo models, including the company's upcoming flagship electric SUV that will be revealed next year. The front ditches even faux grilles for a sculpted fascia. The shape does echo some of the look of a grille, particularly with the Volvo slash and badge in the middle. The "Thor's Hammer" headlights remain, and in the case of the concept, they have wild running lights that slide up and out of the way inside the housing to make way for the actual projector headlights at night time. The whole shape of the car is based around the electric powertrain. It has a low floor and glass roof that means the whole body can be made lower and sleeker without compromising space. The wheels are pushed to the far edges, too. At the back, the car has slim vertical taillights, continuing a Volvo design tradition. On the roof, there is a lidar sensor placed at the top of the windshield. This is a significant piece of Volvo's future, as its next generation of vehicles, starting with that aforementioned SUV, will all come with one of these sensors as standard. It will be used in combination with cameras, radar, real-time data, machine learning and mapping data to provide advanced driver aids, including what Volvo describes as "unsupervised autonomous" driving in specific circumstances. Basically, it will be SAE Level 3 autonomy, a step beyond the hands-free, but still supervised Level 2 systems such as GM's Super Cruise. It will only be available on specific roads in specific circumstances, and so it won't be able to handle the entire driving task from driveway to driveway. The company expects to offer this level of autonomy on highways first, and it will only be in specific areas to begin. It didn't give an exact timeline for the roll-out and it will be a more gradual increase over time, rather than everything being launched all at once. The company also emphasized that it will only begin launching the features when they're well and truly ready.