1968 Ford F100 Shortbed Custom Nice 460 / Auto on 2040-cars

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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.

1969 Ford GT40 Mk III found roaming the halls in Geneva

The halls of the 2015 Geneva Motor Show are filled with all manner of exotic racing machinery, from the likes Scuderia Cameron Glickenhaus to McLaren. But there's one peculiar bit of history tucked away that we thought you'd be equally interested to see: a 1969 Ford GT40 Mk III. One of only seven known to be built, this Mk III coupe was intended as a road-going alternative to earlier racing-bred GT40 models, like the original Mk I and 427-cubic-inch, Le Mans-dominating Mk II. Due to its street-legal intentions, the Ford GT40 Mk III boasted revised bodywork that allowed for some luggage and new headlights, along with a redesigned interior with left-hand-drive and a shifter in the normal, center position. The Mk III wasn't very popular when it was new in the 1960s, in part because it looked different from other GT40 models and because it was pretty expensive, but that just means it's an awfully rare gem today. Take a look at the piece of history in our high-res image gallery above. Related Video: Featured Gallery 1969 Ford GT40 Mk III: Geneva 2015 View 18 Photos Image Credit: Live photos copyright 2015 Drew Phillips / AOL Geneva Motor Show Ford Automotive History Coupe Racing Vehicles Special and Limited Editions Performance Classics 2015 Geneva Motor Show ford gt40 autoblog black

Forza Horizon 3 car list keeps on truckin'

We've covered three weeks of car reveals for Forza Horizon 3, and this time we get a better look at the trucks, SUVs and other off-roaders you'll be able to use to explore Australia. This week's list kicks things off with two of the most legendary off-roaders in the world, the Toyota FJ40 Land Cruiser and the Meyers Manx. They have different purposes; the FJ40 is for tough trail work and the Manx is for some light-hearted beach fun. But no one could deny the cultural importance of either. And both should be a blast in Horizon 3. In addition to this pair of classics, players will have a chance to get behind the wheel of both a race version of the Ford F-150 Raptor and its closest rival, the Ram Runner. And when traditional vehicles start to get boring, why not take out a full-blown Baja racer such as the Penhall Cholla or the Rockstar energy drink version of the little Polaris RZR XP 1000 side-by-side? Forza Horizon 3 is shaping up to have one of the most diverse car lists in a racing game in a long time. There are still cars left to be revealed, so stay tuned for further installments and see this week's full list below. 1957 Chevrolet Bel Air 2002 Ferrari 575M Maranello 1992 Ford Escort RS Cosworth 2013 Ford Focus ST 1973 Ford Escort RS1600 1971 Ford Falcon XY GTHO Phase III 2014 Ford Fiesta ST 2017 Ford F-150 Raptor Race Truck 1954 Jaguar XK120 SE 2014 Jeep Grand Cherokee SRT 2012 Lamborghini Aventador LP700-4 1986 Lancia Delta S4 2009 Lexus IS F 1957 Maserati 300 S 1994 Mazda MX-5 Miata 1967 Mercedes-Benz 280 SL 2009 Mercedes-Benz SL 65 AMG Black Series 1971 Meyers Manx 2012 Mini John Cooper Works GP 1998 Nissan R390 1979 Opel Kadett C GT/E 2011 Penhall The Cholla 1971 Plymouth Cuda 426 Hemi 2015 Polaris RZR XP 1000 EPS Rockstar Edition 2013 Ram Runner 1993 Renault Clio Williams 1990 Subaru SVX 1979 Toyota FJ40 2005 TVR Sagaris 1990 Vauxhall Lotus Carlton Related Video: News Source: Playground Games / MicrosoftImage Credit: Playground Games / Microsoft Auto News Toys/Games Ford RAM Toyota forza exclusive ford f-150 raptor forza horizon forza horizon 3 toyota fj40 meyers manx