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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.

Chevrolet SS previewed by Holden VF Commodore SS V show car

It won't be long before we see the official, production-ready Chevrolet SS sedan (hint: it will be revealed this weekend). And to tide us over until all of the official details are released about the US-spec version, we have this: the Holden VF Commodore SS V show car, a performance-oriented brother to the Calais V that debuted earlier in the week.
What we really want to know about the SS V is what lies underhood, but General Motors' Australian arm is keeping that under wraps until the Chevy model breaks cover this weekend. Nevertheless, it's obvious that the SS V will be a serious performer, with all sorts of aggressive cues driving that home on the car's exterior. Take a look at those 20-inch billet aluminum wheels that hide big Brembo brake calipers up front, the sculpted hood and front fascia, the wide air intakes with LED running lights and the quad exhaust pipes out back. It's like the Pontiac G8 GXP never even left us.
Inside, there's a sporty-looking interior with aluminum accents that mix in with black leather and suede surfaces, all tied together in the middle with an eight-inch MyLink touchscreen infotainment system. It looks great, and again, while we don't know anything regarding powertrain details, it makes us oh-so happy to see a manual shifter smack dab in the middle of the center console.

2016 Chevy COPO Camaro wears drag to SEMA [w/video]

Attendees to this year's SEMA Show get to be the first to check out Chevrolet's latest COPO Camaro that's now based on the new, sixth-generation model. As before, they packs a bevy of racing modifications to rocket down drag strips across the country. All of the interested customers might not get one of these hand-built machines, though, because Chevy is sticking with the tradition of only building 69 of them for 2016. Devised to compete NHRA Stock and Super Stock Eliminator classes, the latest COPO Camaro features the lighter, more rigid platform of the sixth-gen model. Buyers can choose from an array of V8s for power, including a supercharged 350-cubic-inch engine, a naturally aspirated 427, or an LT-based 376. All of them come with a race-prepped Turbo 400 three-speed automatic, solid rear axle, and adjustable suspension. The COPO on display for SEMA wears custom styling from drag racer Courtney Force that combines a Red Hot and black color scheme with her name slashing across rear fender. This one also packs a concept 350-cubic-inch V8 with a 2.9-liter Whipple supercharger. If you're interested in owning it, the car will cross the auction block at a Barrett-Jackson sale in 2016, and the proceeds will go to the United Way. Related Video: CHEVROLET INTRODUCES GEN SIX COPO CAMARO Courtney Force-designed show car to be auctioned for United Way LAS VEGAS – With assistance from NHRA Camaro Funny Car driver Courtney Force, Chevrolet introduced the Gen Six COPO Camaro today at the SEMA Show. After visiting the COPO build center, Force collaborated with Chevrolet designers to create a custom appearance for the 2016 COPO Camaro SEMA show car. It will be auctioned at a Barrett-Jackson sale in 2016, with the proceeds going to United Way. Chevrolet will build 69 COPO Camaro race cars for 2016, extending the production legacy that began in 2012 with the fifth-generation Camaro. Like the previous editions, the new COPO Camaro is designed for NHRA's Stock and Super Stock Eliminator classes. "With the new Gen Six Camaro as its foundation, the 2016 COPO Camaro begins the next chapter of an historic racing legacy," said Jim Campbell, Chevrolet U.S. vice president of Performance Vehicles and Motorsports. "It's great to have Courtney Force on Team Chevy and to work with her on the design of the new COPO Camaro show car.