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.

German companies team up with telecom to spur development of talking cars

With connectivity and communications becoming an ever larger part of the automotive world, German automakers Audi, BMW, and Daimler formed the 5G Automotive Association with Intel, Nokia, Ericsson, Qualcomm, and Huawei. The goal is to develop new technologies to take advantage of LTE and 5G advancements, create standards, and overcome regulatory issues. If they succeed, it will be easier for them companies to develop and implement new technologies. For instance, we could see smarter traffic management, and maybe platooning, advance further in the autonomous sector. By acting as a group, they will also be able to address regulatory issues more easily. All of these companies are capable of developing advanced vehicle communication systems on their own. Audi, in fact, has been pursuing vehicle-to-infrastructure (V2I) technology and launched a stoplight timer in models in some cities. Still, the alliance offers the potential to save time and develop new ideas. Related Video: Image Credit: Audi Auto News Audi BMW Mercedes-Benz Technology Emerging Technologies Infotainment Autonomous Vehicles 5g Connectivity v2v intel vehicle to vehicle communications vehicle to infrastructure technology v2i

AWD BMW M5 is headed our way

Remember the rumor about the BMW M5 going all-wheel drive? Well, there's definitely some truth there because these spy shots show BMW testing the Autobahn-storming sedan with the ability to spin the front and rear wheels. Our spy shooters grew suspicious when they saw this seemingly normal-looking M5 appearing to turn all four wheels during ice testing. They checked it out and snapped these shots underneath clearly showing power routed to the front axle. While this shows that the tech is at least being tested on a current-gen M5, all-wheel drive is probably not coming until the next 5 Series model, which is already being evaluated. The idea of power going to the front and rear axles for this sport sedan might polarize some hardcore brand fans as a break with tradition. However, the head of the M division thinks the change is a priority to actually put torque down effectively. The future vehicle is slated to get at least 600 horsepower and pack it into a lighter platform. Rear-drive M5 purists can take heart, though. The all-wheel-drive system would reportedly be an option, and it would be rear-biased to still let drivers hang the tail out, if the desire arises.