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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.

2019 Chicago Auto Show photo gallery: All of the grilles

Do you like trucks? How about grilles? Like really big, shiny, chromey, in-your-face, could-be-made-by-Broil-King grilles? Well, the Chicago Auto Show is the place to be. Traditionally known as the truck show of the annual auto show circuit (at least those covered by national media), Chicago has what seems like a small national park's worth of acreage devoted to both consumer and commercial trucks. From humble extended cab Ford Rangers to a mammoth F-650 with cherry picker sprouting from its aft quarters, there's bound to be a truck for everything. And they all have grilles. So above is our gallery devoted to them, because hell, why not? Should you want to know about the trucks attached to those grilles, check out our coverage below. Heavy Duty Trucks 2020 Chevrolet Silverado HD revealed, tows 35,500 pounds 2020 GMC Sierra HD revealed, has more subtle looks than Chevy sibling 2019 Ram Heavy Duty trucks get new face, 1,000 pound-feet of torque 2020 Ford F-Series Super Duty revealed, adds massive gas engine Full-Size Trucks Read how all of the full-size trucks compare to each other 2019 Chevrolet Silverado First Drive 2019 Chevrolet Silverado 2.7L Turbo First Drive 2019 GMC Sierra First Drive 2019 GMC Sierra AT4 First Drive 2019 Ram 1500 Laramie Quick Spin Review 2019 Ram 1500 eTorque Drivers' Notes Review 2019 Ford F-150 2.7L EcoBoost Quick Spin Review 2018 Ford F-150 King Ranch Power Stroke Diesel Review Related Video: Featured Gallery 2019 Chicago Auto Show: All of the grilles View 40 Photos Chicago Auto Show Chevrolet Ford GMC RAM Truck chevrolet silverado

GM: Without LG Chem, we couldn't build Bolt EV [UPDATE]

It's absolutely no surprise that General Motors has a thing for LG Corp. The Detroit automaker and the Korean parts supplier have been working in public on electric vehicles ever since it was announced that LG Chem would supply the battery cells for the Chevy Volt in 2009. LG Chem was even named GM's 2010 Supplier of the Year. But, yesterday, the connection between the two companies was strengthened with the announcement that LG Electronics would be supplying a number of components for the upcoming Chevy Bolt electric vehicle. The Bolt is expected to be able to go about 200 miles and will carry a price tag of about $30,000 (after incentives) when it arrives in 2017 or so. LG's new components can be found almost everywhere in the Bolt. They include the battery pack and the battery heater, a new motor, the power inverter module, the electric climate control system compressor, the on-board charger, high-power distribution module, the accessory power module, and power line communication module. Oh, and then there are LG Electronics' advanced display technologies like the new instrument cluster and a new infotainment cluster. LG Electronics also supplies parts for the 4G LTE OnStar system, just like it does in other new Chevys. If that all sounds like a lot of components to you, you're right. Mark Reuss, GM executive vice president of global product development, purchasing and supply chain, said that without the expanded relationship with LG, GM would not be able to bring the Bolt to market (insert old ironic quote link here). "I think GM was lacking that [electrification knowledge] in a very complete way for many years, I'll just be frank about that," Reuss said. "I also think that on an electrified basis, this requires a long-term commitment and trust that sometimes is violated on a more short-term, regular, traditional basis. I think we have found something completely different with LG and I think that has become a widely talked about and duplicated want from our purchasing and corporate standpoint with our supply base." The "this" that Reuss is talking about here is the OEM-supplier relationship, something has evolved with the LG-GM situation. Previously, the automaker-supplier relationship used to be more like a dictator telling underlings what he needed, Reuss said, and that was a bad idea. "Today's competitive landscape requires a different approach, especially in electrified vehicles," he said.