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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.

The 2016 Pebble Beach Concept Lawn was nuts as always

The Concept Lawn at the Pebble Beach Concours d'Elegance is like the smallest, most expensive car show you can imagine. A bunch of unobtanium concepts and almost-production models line an irregularly shaped putting green for people to stare at while on their way to see other, older insane cars. This year's crop was a particularly good one. We'll walk through the gallery above in order: That's a new Ford GT. Not quite a concept, but it's not in production yet, so we'll let it slide. Then there's the one-of-a-kind Bugatti Vision Gran Turismo that was recently bought by a Saudi Prince along with a matching Chiron. Next up is the Lamborghini Centenario Roadster, which was unveiled last week and is already sold out. This orange automobile is BMW's 2002 Hommage with its latest livery, a Jagermeister-themed affair called Turbomeister. This silver Infiniti, the Q80 Inspiration Concept, is an oldie but a goodie. It first appeared in Paris in 2014. The extremely long automobile after that is the Vision Mercedes-Maybach 6, which was unveiled in Monterey this year. The 6 in the name is because it's 6 meters, or about 18 feet, long. Most of that's the hood. Next we have the one-of-99 Aston Martin Vanquish Zagato coupe, which continues to be beautiful. After that is a Fisker Karma with a V8, the VLF Destino. Thank you, Bob Lutz. The black sedan you see after that is the Cadillac Escala Concept, which also made its debut in Monterey this year. Then we have a Rolls-Royce Wraith Black Badge. Not a concept, but exclusive enough to join the others. Next is the McLaren 570GT customized by MSO that arrived for Pebble 2016. It has special design touches plus an electrochromic panel to replace the normal glass roof. The light blue car is the Genesis New York concept. The name didn't change even though it was in Monterey. Then we have the large and in charge Lincoln Navigator concept, taking up two regulation concept spots. The red car with suicide doors is Acura's Precision Concept, which we first saw at the Detroit show this year. Another non-concept, the Lexus LC 500h at least looks futuristic enough to be a show-specific car. And here's a 2017 Maserati Quattroporte, which is definitely not a concept. A Bentley Mulsanne EWB, because why not? It's not available in the US, so that almost qualifies for concept status. Then there's a reproduction Lister Knobbly, which we could stare at all day.

GM may have teased a whole group of electric vehicles

During GM's big CES press conference, the automaker highlighted a number of its upcoming electric car-related projects from delivery vans to the upcoming flagship Cadillac Celestiq. In the middle of it all, a collection of mystery cars sat in the background behind speakers. They were in the dark, lit only with their running lights, and while it's possible they're just generic filler cars or concepts, we think they could be future products. Our best shot of the cars together is shown above, and we can pretty easily identify three of the vehicles. In the center is obviously the GMC Hummer EV. On either side of it are Cadillacs. To the left seems to be the Lyriq crossover, and to the right is the Celestiq sedan. Two of these cars have production dates, and the third has been confirmed for eventual production, just without timing. This is why we think the rest of the cars are upcoming models. The next most easily identified car is on the near right behind the Cadillac Celestiq. It very clearly has a Chevy bowtie illuminated in the running lights. And looking closely, it appears to be a pickup truck. It's difficult to make out anything more than that. The nose does look a bit more rounded and swept back than the brick-like designs of the Silverado truck line. That also squares with what seemed to be the upcoming truck that appeared in the background of yet another GM presentation. GM previously said this electric Chevy truck will be a full-size model with up to 400 miles of range. That leaves us with three more mysterious models. Over to the left behind the Cadillac Lyriq are what appear to be a pair of crossovers. The one on the far left looks low, curvy, and possibly with a fastback roof. The one on the right is taller, boxier, and probably more of a full-size people hauler. It's hard to say much more beyond that. They could be new electric Buicks, which would fit in nicely with that brand's crossover portfolio, and would likely be highly successful in China, where Buicks, crossovers and electric cars are all rather hot commodities. As for the mystery car on the far right, it's quite a puzzle. We can at least rule out Buick and Cadillac, and GMC since it's definitely a car, and a rather small one compared with the other cars on display. That leaves Chevy, and possibly the autonomous division Cruise. We're leaning toward it being a Chevy, since the first Cruise vehicle is going to be a boxy pod of sorts.