2012 Bmw X5 35i M Sport Warranty Nav Cam Conv Prmsnd 20" M Sport Sat Ipod Cmfac on 2040-cars

Auto blog

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.

BMW denies collaborating on Apple Car

BMW and Apple already have a few possible partnerships coming in the future. For example, the Bavarian brand is likely using CarPlay at some point, and there may be an Apple Watch app for the i3 and i8 eventually, too. However, there is absolutely no plan for the German company to collaborate on the oft-rumored Apple car, the automaker says. The rumor of this shared development first cropped up in the German magazine Auto Motor und Sport, according to Reuters. The report claimed that the Apple cars could be sold from Apple Stores but serviced at BMW dealers. "We are in regular talks with companies from the IT and telecommunications sector, including Apple, concerning topics like connected vehicles. Developing or building a car is not a topic of these discussions," said a BMW spokesperson responding to the allegations to Reuters. The Apple car has been a scorching hot topic as of late. The tech giant reportedly has assigned around 200 people to the project, including former employees from Tesla and A123 Systems. The EV model could be ready as soon as 2020, according to some stories. This latest collaboration rumor seems especially dubious when you consider BMW's investments to develop the i3 and i8, though. With more models possibly on the way, it doesn't seem to make much sense to take on a development partner so late in the game. Last year, there were similar stories about a deal between the automaker and Tesla, which were also dismissed.

BMW 7 Series could get M variant alongside Alpina B7

BMW is launching the new 7 Series with a limited engine lineup, but according to Car and Driver, there are more powerful versions on the way – including a potential M Performance model. The new 7 Series is initially being offered with a 320-horsepower turbo six and a 445-hp twin-turbo V8. European customers will also be able to spec a 261-hp diesel or a 320-hp hybrid. There's an M Sport package available as well with enhanced visual cues, but that won't be the extent of the performance choices when all is said and done. Expect a new 760i that will pack BMW's twin-turbo V12, and a new Alpina B7 to feature a more powerful twin-turbo V8 with around 600 horsepower. In parallel to the Alpina, however, C/D reports that an M Performance model could finally be in the works, which would ostensibly offer BMW the opportunity to go after the likes of the Audi S8, Jaguar XJR, and Mercedes S63 AMG, without changing tacks too drastically over the resolute position it's taken in the past against creating a full-on M7. C/D reports that there are more powerful diesels joining the lineup in the future, but those aren't likely to make their way to US showrooms anytime soon.