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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.

Autoblog Podcast #407

Episode #407 of the Autoblog Podcast is here, and this week, Dan Roth, Steven Ewing, and Sebastian Blanco talk about the Michelin Challenge Bibendum, the Toyota Mirai, and the BMW 3 Series falling off the Car and Driver 10Best list. We start with what's in the Autoblog Garage and finish up with some of your questions, and for those of you who hung with us live on our UStream channel, thanks for taking the time. Check out the rundown below with times for topics, and you can follow along down below with our Q&A. Thanks for listening! Autoblog Podcast #407: The video meant to be presented here is no longer available. Sorry for the inconvenience. Topics: Challenge Bibendum Toyota Mirai fuel cell 3 Series falls off Car and Driver 10Best list In The Autoblog Garage: 2015 Acura TLX 2015 Dodge Charger 392 Audi Prologue Concept Hosts: Dan Roth, Steven Ewing, Sebastian Blanco Runtime: 01:07:55 Rundown: Intro and Garage - 00:00 Challenge Bibendum - 18:32 Toyota Mirai - 28:20 C/D 10Best - 44:52 Q&A - 53:52 Get the podcast: [UStream] Listen live on Mondays at 10 PM Eastern at UStream [iTunes] Subscribe to the Autoblog Podcast in iTunes [RSS] Add the Autoblog Podcast feed to your RSS aggregator [MP3] Download the MP3 directly Feedback: Email: Podcast at Autoblog dot com Review the show in iTunes Podcasts Acura Audi BMW Dodge Toyota toyota mirai challenge bibendum

Audi confirms S8 Plus for US to debut in LA

Audi has confirmed that the new S8 Plus will indeed be coming to North America. The more potent version of the German automaker's flagship sedan was first revealed in August, and Audi will bring it to the upcoming Los Angeles auto show. The Plus model packs the same 4.0-liter twin-turbo V8 as the existing S8 (and the Bentley Continental for that matter), but increases output from 520 horsepower to 605 hp and torque from 481 pound-feet to 516 lb-ft (or 553 on overboost). The result is a 0-62 time quoted at 3.8 seconds to give the likes of the Mercedes-AMG S63, Jaguar XJR, and Maserati Quattroporte a run for their money. Audi of America has not announced US pricing for the S8 Plus or final specifications for the American market. Look for an MSRP in the neighborhood of $140k. The Audi S8 Plus will debut in LA alongside the new RS7 Performance and the second-generation R8, which will be making its US auto show debut at the SoCal expo. TRIO OF AUDI SPORT® AND PERFORMANCE MODELS TO MAKE US DEBUT AT LA AUTO SHOW – AUDI R8, RS 7 PERFORMANCE AND S8 PLUS - The second generation of the R8 high-performance halo car makes its U.S. auto show debut - Auto show debut of new RS 7 performance enhances brand's dynamic profile - S8 plus strengthens Audi's position in premium sedan segment November 10, 2015 | HERNDON, Virginia -- Reinforcing the brand's success from road to track, Audi will showcase a trio of new performance vehicles – including the all-new R8, RS 7 performance and S8 plus – at the Los Angeles Auto Show. "The Audi Sport® and performance models have always been an essential part of our brand's character," said Filip Brabec, Director of Product Management for Audi of America. "The Audi R8, RS 7 performance and S8 plus represent the maximum of Audi performance, premium design and technology for our customers." 2017 Audi R8 The fastest and most powerful Audi of all time, the 2017 R8 represents the pinnacle of performance for any model with the four rings. Thanks to the close cooperation between Audi Sport® engineers, race drivers and developers, the Audi R8 and R8 LMS racecar were co-developed and share approximately 50 percent of the same parts, including the V10 engine. The R8 launches with two powertrain variants: the 5.2L V10 with 540 hp, an increase of 15 hp from the previous R8 model or the R8 V10 Plus, boasting a powerful 610 hp, an increase of 60 hp, making it faster, more powerful and more dynamic than its predecessor.