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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.

BMW Motorad reveals Concept Stunt G 310 in Brazil

BMW has been on a bit of a concept motorcycle bent lately, and each has taken a decidedly different approach from one another. The Motorad division did the Path 22 scrambler concept in June, the Concept 101 custom bagger in May, the Concept Roadster last year, and the Concept 90 retro racer the year before. Now it's at it again with the Concept Stunt G 310. As you might have guessed, the G 310 is a stunt bike. Its compact form is built around a single-cylinder engine canted rearwards with a rotated cylinder head to help optimize the weight balance. The intake was moved forward and the exhaust towards the rear, mounted under the seat, to enable the rider's freedom of movement. It has long travel in the suspension, but still rides on a short wheelbase – perfect for impressing the crowds. To that end, it was designed with collaboration from four-time stunt riding champion Chris Pfeiffer. It's also got a lockable throttle so the rider can take his hands off the controls (not advisable for the rest of us). The beefed-up secondary rear brake can be actuated by a squeeze of the finger. Axle pegs allow for additional foot-placement options, red crash bars protect the mechanical elements, and a specially designed "stunt tail" is milled from solid aluminum and provides an additional foot-hold. The shape is adorned with an eye-catching neon livery designed to give the impression of movement, even when it's sitting still. The bike will be unveiled in Sao Paulo, Brazil, at South America's preeminent motorcycle show. BMW Concept Stunt G 310 – Street. Style. Stunt. 06.10.2015 Munich/Sao Paulo. With the world premiere of the BMW Concept Stunt G 310 at South America's largest motorcycle show, BMW Motorrad is presenting a completely new side: the uncompromising interpretation of an aggressive and agile stunt bike based on a single cylinder study. Thanks to his experience as a four-times World and European stunt riding champion, Chris Pfeiffer, contributed to the realisation of the BMW Concept Stunt 310. "Stunt riding is a demanding and multi-faceted sport. Ideally you need a compact, agile bike which is also stable and robust at the same time. You have to achieve the ideal balance between aggressiveness and control", explains Chris Pfeiffer. Compact proportions, highest-level agility.

Options sheet for the BMW M2 leaks

The same folks over at the 2addicts forum that brought us preliminary specs on the BMW M2 have apparently gotten their hands on the option sheet for what will be the littlest M. Reports indicate 365 horsepower and 343 pound-feet of torque from turbocharged, 3.0-liter inline-six, working through either a six-speed manual transmission or a seven-speed dual-clutch. Other features on the car won't be so replete with choice. According to the options sheet provided by a forum member there's only one wheel style available, 19-inch black numbers, said to be the black light alloy double spoke wheels that can be specced on the M4. There's a parking sensor fitted to the rear, but no sensor option for the front of the car. Navigation Pro and carbon interior inserts are standard, as is the Shadowline black exterior trim, which swaps out chrome trim around the windows and other places for muted black. Among the options will be power heated seats, a rearview camera, adaptive headlights, an upgraded Harman Kardon stereo, and a five-year warranty. Those adaptive headlights are xenon; LED headlights aren't available. Neither is a carbon fiber roof. But there will be a moonroof option, BMW's Electronic Damper Control, and proper M seats by the looks of it - the coupe will get M235i seats as standard. Take this news with some salt - the order information comes from a Belgian member who ordered his Euro-spec car, so US option mileage might vary. Related Video: