2012 Nissan Altima Sedan 4-door 2.5l 15k Very Low Miles on 2040-cars

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Auto News Recap For 5.13.16 | Autoblog Minute

Senior Editor Greg Migliore recaps the week in automotive news, including a look at Hyperloop One's desert propulsion test, Chrysler 300 rumors, and Nissan's purchase of Mitsubishi. Chrysler Mitsubishi Nissan Autoblog Minute Videos Original Video hyperloop

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.

Federal prosecutor fights bail for men accused of helping Carlos Ghosn escape

BOSTON — A U.S. prosecutor on Monday urged a judge to keep a former Green Beret and his son locked up as Japan prepares to formally seek their extradition on charges that they helped former Nissan boss Carlos Ghosn flee the East Asian country. Assistant U.S. Attorney Stephen Hassink argued during a virtual hearing that Michael Taylor and his son, Peter Taylor, have a "clear and present reason to flee" after being accused of helping Ghosn, who faces financial misconduct charges in Japan. "They're actually some of the best defendants that IÂ’m sure this court has seen positioned to actually succeed in that flight," Hassink said. He argued the men, who have been held without bail since being arrested in Massachusetts last month, helped smuggle Ghosn out of Japan in a box on Dec. 29, 2019. Ghosn then allegedly fled to Lebanon, his childhood home, which has no extradition treaty with Japan. Ghosn, Nissan's former chief executive, was charged with engaging in financial wrongdoing by understating his compensation in Nissan's financial statements. He denies wrongdoing. The Taylors' lawyers countered that had they wished to avoid prosecution they could have remained in Lebanon, where they were in January when Japan said it would seek their arrest, rather than return to Massachusetts. "If he's an expert of escape, he would not have returned to the United States," Robert Sheketoff, a lawyer for Michael Taylor, argued. He and other defense lawyers argued the case against their clients was flawed and that Michael Taylor, a U.S. Army Special Forces veteran and private security specialist, is at heightened risk of complications from COVID-19, which could spread in the jail. The hearing itself was held through a Zoom videoconference because of the coronavirus pandemic. U.S. Magistrate Judge Donald Cabell said he hoped to rule "as quickly as I can." Related Video: