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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.

Volkswagen Group names Paefgen head of classics program

You may remember the name Franz-Josef Paefgen. Until recently, the German engineer and executive was head of both Bentley and Bugatti. Before that he was chief executive of Audi, after working for several years at Ford. He technically "retired" earlier this year, but like the cars he helped create, an executive like Paefgen could never really retire. So it should come as little surprise that the Volkswagen Group has named Dr. Paefgen head of its Classic program.
In his new capacity, Paefgen will oversee the historic automobile activities of the entire VW Group, including those of Volkswagen, Seat, Skoda, Audi, Lamborghini, and of course Bentley and Bugatti. It strikes us as a suitable semi-retirement for the man responsible in no small part for the Bugatti Veyron and Bentley Mulsanne, to name just two, and who was decorated in 2006 by the ACO as the "Spirit of Le Mans" for his contribution to endurance racing. Read the official announcement after the break.

2017 Audi Q7 First Drive

Automotive evolution rarely makes a great leap, instead creeping along from new model to new model at a predictable pace. Audi's new Q7, though, is like handing a Bic lighter to a Cro-Mangon man smashing rocks. In Europe the new version drops 700 pounds, almost enough to reclassify its species. Audi's fire-machine will arrive in America in early 2016, as a 2017 lighter model. We spent some time in the Swiss Alps flicking the 2017 Audi Q7. As far as revolutions go, the 2017 Q7 certainly looks new. It resembles a tall station wagon more than ever, at least in European trim. A little tweaking of the design wand has left the rear end boxy and angular. Our test models use an adaptive air suspension, and the the "all-road" setting lifts the Q7 about an inch, to the normal ride height for US models. Thus raised, the big Q looks more like an SUV. This Q7 represents the first of the Volkswagen Group's MLB-platform cars. Lighter and said to be more dynamic, MLB will underpin everything from the next-gen A4 to performance and luxury SUVs like the Porsche Cayenne, and Bentley Bentayga. With the structural improvements comes a diet heavy in aluminum, the prime reason for the previously-mentioned weight savings. When outfitted for our content and crash-safety specification, US-bound models will still be about 500 pounds lighter than before. But dramatic weight-savings isn't the Q7's only trick. The adaptive air suspension significantly changes the character of the Q7, especially in the sportiest Dynamic model. There's an optional all-wheel steering feature that improves turning radius, and helps with high-speed stability. This is not to be confused with Audi's Quattro all-wheel drive, which along with a panoramic sunroof and seven seats, comes standard on all stateside models. Under the hood, things aren't so different. Both available engines are reworked but largely the same. The supercharged 3.0-liter gas engine still makes 333 horsepower and 325 pound-feet of torque, but it's not as thirsty as it used to be. Expect a two or three mile-per-gallon bump once official EPA ratings arrive. That engine, as well as Audi's reworked 3.0-liter V6 TDI – good for 260 hp and 443 lb-ft once outfitted for the US – are mated to the ubiquitous ZF eight-speed transmission. The Q7's driving character greatly depends on where it is pulling power from. While the diesel model is capable, turbo lag cuts back on the satisfaction we normally derive from oil burners.