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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.

FCA is setting a five-year strategy: Here's how the last one played out

We're slightly more than four years removed from Sergio Marchionne last five-year plan for FCA, a tell-all where the Italian-American automaker divulged its plans for the 2014 through 2018 model years. It was a grand affair, where Sergio told FCA investors that all was right in Auburn Hills, Alfa Romeo and Maserati were making comebacks, and the fifth-gen Dodge Viper received a mid-cycle refresh. You can read every last one of those past predictions right here. We're on our way to Europe to see Sergio's sequel, coming out Friday straight from FCA's Italian headquarters. (Bloomberg reports a plan to expand Jeep and Ram globally, combine Alfa Romeo and Maserati into a single division for an eventual spinoff, and downsizing Fiat and Chrysler. Also, EVs.) But before we arrive in Italy and find out exactly what Marchionne has planned for 2019 through 2023 as his last act as CEO, let's take a minute to tally up the results of his last term based on the same scoresheet we used in 2014. Now, we're only five months into 2018, so much of this — including vehicles like the Ram HD and Jeep Grand Wagoneer — could still debut this year. For those, we'll mark things TBD. We're not going to draw any conclusions or make any objectionable remarks. We're simply going to let the stats speak for themselves.

Jeep planning on a Grand Wagoneer Hellcat?

Twitter guy and Finder of Things Hidden Bozi Tatarevic scored another gem: an internal ZF document referencing a Jeep Grand Wagoneer Trackhawk. Dating from at least early 2017, the German auto supplier paperwork pairs what would be a 6.2-liter V8-powered three-row Jeep with ZF's 8HP95X transmission. The Jeep Grand Cherokee Trackhawk uses the 8HP95 gearbox, a version of the 8HP90 transmission used in the Dodge Charger and Challenger Hellcats, but built for all-wheel-drive applications and with a choice of gear ratio sets. This doesn't mean we'll ever see a Grand Wagoneer Trackhawk, but it looks like Jeep's been thinking about it. Not only that, but the brand was thinking about it with the just-launched-for-2019 Hellcat engine. The ZF document lists 729 PS for the engine in the Jeep, or a hair shy of 718 horsepower — just one off the figure for the 2019 Charger and Challenger Hellcats. The listed production dates mean ZF planned for a build run of April 2017 to May 2017. The document also mentions the Rolls-Royce Cullinan with two sets of build dates: from January 2016 to February 2016, and from December 2017 to January 2018. That sounds like a run of prototypes, which could be how the Grand Cherokee Trackhawk got included in the paperwork. The document didn't reference any other Wagoneer versions. A Hellcat-powered Grand Wagoneer would make sense. The new luxo-Jeep will be built on a modified Ram platform at the Warren Truck Assembly Plant, and we know Ram's working on a Hellcat-bound Ram 1500 TRX. And the now-iconic engine in an SUV that hopes to become a new icon would be a treat for dealers who wonder if the Grand Wagoneer will arrive too late to succeed. Again, this doesn't mean we'll see anything of the kind. Chrysler also evaluated a 300 Hellcat, but nothing's come of it. And with the standard Wagoneer still several years away — the renovations at the Warren plant aren't due for completion until 2020 — any hi-po version could wait another year after launch, were such a thing to happen. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.