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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.

UPS employees band together to buy car for teen coworker

A young Alabama man got the surprise of a lifetime this week when his co-workers presented him with his very own car for his daily commute. According to the Daily Mail, 19-year-old Derrick Taylor started working at the Oxford, Alabama, UPS freight center a year and a half ago to support his ailing mother. With precious little money left over after bills and healthcare, Taylor had no money to afford a vehicle so he walked the five miles to and from work every day. Despite numerous offers of rides and loans, the young man was too proud to accept even the slightest help from his co-workers. Desperate to do something for him, Taylor's co-workers raised money in secret and bought him a used Jeep Cherokee off a local lot. 'This is a hard working young man. He makes me emotional. This young man wants to work so bad, he walks to work from way out of town," said James Williams, Taylor's safety instructor. "The group here, we've got some good news for you. Everybody came together and you don't have to walk no more. You've got your own ride. We want you to know we appreciate your hard work." Deeply moved, Taylor stood for a moment and wiped tears away before he walked over to check out the Jeep. "I was overwhelmed with joy. No one had ever done anything like that for me so it made me cry and I'm not really the type to show my emotions," he told the Daily Mail. Related Video: News Source: The Daily Mail Auto News Jeep SUV gift

Why the 2020 Jeep Gladiator isn't called a Scrambler

After years of development and constant digging by spy photographers and forum users alike, there wasn't a whole lot surprising about the 2020 Jeep Gladiator reveal. But one thing that was a bit unexpected was the name. While never officially announced, the Internet had accepted the name Scrambler for the Jeep pickup and it was referred to as such until just before the reveal. There are reasons for the Gladiator name choice. Jeep representatives explained that one of the reasons for the choice of Gladiator is because of the Jeep Gladiator concept truck from 2005. That concept led to many rumors of a Wrangler-related pickup truck, and you can see some design influence from it on the current truck. Of course the concept was just a two-door extended-cab pickup. Also, besides the concept heritage, the Gladiator name was shared with the longest-running Jeep pickup truck line, the Gladiator and J-Series. The Jeep folks also noted that they wanted to avoid the Scrambler name because they felt the old Scrambler wasn't enough of a full-on truck, and the company wanted to emphasize that the new Gladiator is a true truck designed to be a truck. The original '80s Scrambler was effectively a stretched CJ-7, and practically called CJ-8, with a longer cargo area. It was mainly a truck because it was available with a half-cab top. But it was also available for a full-length wagon top eventually. So the Scrambler was more related to the first Wrangler Unlimited, which was a stretched two-door Wrangler, than to the new Gladiator, which has a unique frame, unique rear suspension and a separate bed and cab. If we're being honest, we don't think the Scrambler name would have been a problem. It's clear that Jeep fans are very fond of the name, and it would fit the idea of a Wrangler truck. But we also certainly don't have a problem with the Gladiator name either. It's equally historic, and even if it wasn't, it sure sounds great, evoking toughness and capability. Perhaps if people are really bothered by the truck not being called Scrambler, Jeep can roll out a graphics package as a tribute to the old models. Related Video: