2002 Audi A6 Quattro 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.

New Transporter 4 Refueled prequel trailer comes with new lead, new Audi S8

Frank Martin returns in a new installment of the franchise that helped make Jason Statham that guy, this one called Transporter 4: Refueled. But ugh, what's happened to all the decent car movies? The problem here isn't that Statham left this series to play the baddie in Fast & Furious 7, but that the trailer makes it appear the director just combined the unused footage from a rap video and a Michael Bay movie, only forgot to include any rappers or input from Michael Bay. The trailer gives no clue as to what the movie's about, but it's not like we don't know – actor Ed Skrein has to take something somewhere while people try to kill him. Skrein does his best (we assume) to fill Statham's large shoes, helped and hindered by the entire line-up of Sports Illustrated's swimsuit issue, a second reserve alternate Bond villain, gigatons of CGI, and more fireballs than the Milky Way. Oh, and this is a prequel to the series, so just like you did with Darth Maul's double-sided light saber, ignore the extreme newness of Skrein's current generation Audi S8. Related Video:

Audi already teasing, testing next R18 e-tron quattro

You can't debate Audi's record in endurance racing. With 12 victories at the 24 Hours of Le Mans, it comes second only to Porsche in the history books of the famous endurance race - only in Audi's case, all of those victories have come in the last 14 years, losing only twice: once to its partner team Bentley in 2003 and once to rival Peugeot in 2009. It's won the FIA World Endurance Championship in both of the seasons it's run so far, and has won championships in the European and American Le Mans Series, too.
That's quite a record to defend, and defend it Audi will with an evolved LMP1 racer next year. Only a week after tying up its second consecutive world championship, the German outfit is already back at Sebring this weekend testing the successor to the all-conquering R18 e-tron Quattro. Unfortunately as the new United SportsCar Championship doesn't include LMP1s, the only chance we may have to see it competing here in the United States will be at the 6 Hours of the Circuit of the Americas in September.
Audi is keeping mum on the details for the time being, releasing only this one photo and promising to reveal further details before the end of the month, but we can already discern a more streamlined shape, revised aero and reprofiled headlamps among the changes from the outgoing R18. One way or another, with Toyota upping its game and Porsche returning to top-level competition next season, Audi may be in for its toughest challenge yet - but you can bet it won't take it lying down. Scope out the press release below and watch this space for more.