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Mueller named Audi boss, too

Matthias Muller, chairman of the board for the Volkswagen Group, has officially taken the role of chairman of the supervisory board for subsidiary Audi. Muller takes over the role from the disgraced Martin Winterkorn. This appointment should come as a shock to no one, and not just because we told you about it last week. Since Audi is part of the Volkswagen Group, which Muller leads, he's effectively been the head of the subsidiary brand since his appointment in late September. This news simply formalizes his positioning at the Ingolstadt-based company. This, of course, is not Muller's first go-around at Audi. He previously served as Head of Product Management Audi (along with Lamborghini and Seat), before taking the lead on product planning at the entire VW Group. Check out the official press release from VAG. MATTHIAS MULLER BECOMES CHAIRMAN OF THE AUDI SUPERVISORY BOARD Ingolstadt/Neckarsulm, December 7, 2015 – The Chairman of the Board of Management of Volkswagen AG, Matthias Muller, has joined the Supervisory Board of AUDI AG and becomes its Chairman with immediate effect. Berthold Huber will continue to be Deputy Chairman. Furthermore, the two vacant seats for members representing the shareholders will be newly occupied by Julia Kuhn Piech and Josef Ahorner. Matthias Muller has been a member of the Board of Management of Volkswagen AG since March 1, 2015 and its Chairman since September 25, 2015. After completing high school in Ingolstadt, he did a toolmaker's apprenticeship at Audi. He then studied informatics at the Munich University of Applied Sciences. After graduating in informatics, Muller continued his career at Audi in 1978, progressing to become the Head of Product Management for the Audi, Lamborghini and SEAT brands. From 2007 onwards, Muller was Head of Product Management for the Volkswagen Group and the VW brand as well as Executive Vice President of the Volkswagen Group. From 2010 until September 2015, Matthias Muller was Chairman of the Board of Management of Dr. Ing. h.c. F. Porsche AG. Josef Ahorner (55) is the chairman of the supervisory board and main shareholder of Emarsys AG, and was a member of the shareholder committee of Salzburger Porsche Holding from 1996 until 2008. Julia Kuhn-Piech (34) is a real estate manager and a member of the supervisory boards of MAN SE and the Truck & Bus division of MAN AG.

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.

Weekly Recap: Mercedes, Volkswagen spend big as import automakers invest in North America

Import automakers are on a building frenzy in North America as resurgent car sales have prompted companies to expand their manufacturing footprints to meet rising demand. That was evidenced this week when Mercedes-Benz announced plans to build a $500-million factory to produce the Sprinter commercial van, and Volkswagen confirmed a whopping $1-billion investment to expand its massive plant in Mexico. Meanwhile Jaguar Land Rover reportedly wants to build a factory in North America, but not for at least three years, and Hyundai is said to be expanding in the southern United States. The common thread in all of this expansion? Trucks, time and money. Mercedes wants to capitalize on the burgeoning work van segment in the United States and will break ground in 2016 on a 200-acre site in Charleston, SC, to build the next-generation Sprinter. The site will have a paint shop, body shop and an assembly line, and 1,300 people will be employed when production ramps up. Why do this, when Mercedes has immense van operations in Germany? It's cheaper to build in the US for the US market. Building locally allows Mercedes to avoid import taxes, forego a complex shipping process that involves partially disassembling German-built Sprinters and naturally, reduces the time it takes to deliver finished trucks to their buyers. "This plant is key to our future growth in the very dynamic North American van market," Volker Mornhinweg, head of Mercedes-Benz Vans, said in a statement. He was speaking about Mercedes and vans, but another German automotive giant, Volkswagen, had similar motives for its mammoth expansion plans in Puebla, Mexico. The added space and production capacity will allow VW to build a three-row version of the Tiguan, and provide another crossover for its US lineup that's light on SUVs. The current Tiguan has two rows. The factory will be able to churn out 500 units daily of the larger variant, and they will be sold in North and South America. It will arrive in the US in mid-2017, a spokesman told Autoblog. VW also plans to build another crossover, a midsize seven-passenger vehicle, at its growing Chattanooga, TN, site. "Localization has become key to safeguarding our competitive position on the global market, and manufacturing the Tiguan in Mexico will bring production closer to the US market," Michael Horn, CEO of Volkswagen Group of America, said in a statement.