1994 Chevrolet Corvette on 2040-cars

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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.

National Corvette Museum to recreate sinkhole experience for patrons [UPDATE]

UPDATE: The Thunderdome at the National Corvette Museum is not a ride; instead it's an experience that mixes digital graphics and thundering sound. For a brief period, it looked like the National Corvette Museum was going to preserve that sinkhole that ate eight important 'Vettes last year. After all, tourism boomed there afterwards. However, keeping the crater would have been more expensive than just doing the repairs. The museum isn't ready to let people completely forget, though, and now intends to make a major attraction out of a recreated version of the calamity. The museum's plan turns the sinkhole disaster into an amusement park ride called the Thunderdome, according to GM Authority. In a smaller recreation of the Skydome, 15 people at a time would get to watch an imitation of the sinkhole devouring the eight Corvettes. To make the experience even more immersive, visitors would get to view this all from an artificial, underground cave. If you missed seeing the actual pit, this would certainly be a bizarre way to experience it. According to GM Authority, the exhibit would also include an explanation of how sinkholes occur. The Corvette museum reportedly wants the attraction open by this fall.

Chevy bringing Spark RS Concept to SEMA

Well, the SEMA mess has well and truly begun. Every year, an increasing number of automakers flock to the Las Vegas auto show, bringing accessories and concept vehicles that are both awesome as well as occasionally questionable. Chevy will bring an RS concept of the new Spark to SEMA, signaling that its styling package will be applied to the brand's smallest vehicle in the near future. We can expect the usual stuff in a production Spark RS – larger wheels, a slightly sportier cabin, a more aggressive body kit, and a small drop in ride height – but for the concept, Chevy wasn't restrained by things like budget. The front splitter, and sill extensions, foglight surrounds, and rear bumper insert are all finished in carbon fiber. The 17-inch alloys are apparently inspired by the Corvette Z06's Z07 package, while the Dark Liquid Switchblade Silver paint is broken up only by a driver's-side stripe. The company is also using SEMA to show its new Red Line accessories, features both concept and production parts for the Trax, Camaro, Malibu, Colorado, and Sierra. Every vehicle gets Enhanced Silver Metallic paint, a charcoal finish on the roof, satin graphite/red graphics, black/red badge kits, and aside from the Colorado, tinted lamps. Individual mods for the Trax include relatively simple tweaks, including new 18-inch wheels, blacked-out bowtie badges, a lowered ride height, and custom badging. It's a similar story on the Malibu, except that its 19-inch wheels are a smidge larger, and its lowered ride height is the result of a concept kit. The first concept based on the new Camaro opts for 20-inch wheels, while adding a few more performance items. The ride height has been lowered, there's a new air intake system, and an upgraded brake package. Chevy has also replaced the front upper and lower grilles inserts with red accents. On the pickup side of the coin, the Colorado gets 18-inch wheels, new intake and exhaust systems, Goodyear Wrangler Fortitude tires, and flared wheelarches. The Silverado gets similar intake and exhaust upgrades, as well as the largest wheels of them all, with 22s at all four corners. The full-size truck also gets a Brembo brake package, while every vehicle, aside from the Camaro, gets Thule roof-mounted accessories. You can check out all six concepts in the gallery above, and then be sure to keep an eye open for live images from the floor of the 2015 SEMA show, slated to open next month.