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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.

Audi mulling producing version of Quattro showcar, just not sure which one [w/poll]

Head of design for Audi, Wolfgang Egger, has told Auto Express that a reborn Quattro could enter production, but bosses for the company haven't yet decided whether to base it on the Sport Quattro concept that just debuted at this week's Frankfurt Motor Show or the smaller Quattro concept that was revealed at the 2010 Paris Motor Show.
While both draw their inspiration from the original Ur-Quattro of the 1980s, they vary wildly in both size and choice of powertrain. The 2010 Quattro concept was based on Volkswagen's MQB platform, shared with such vehicles as the Golf and Audi A3. The Sport Quattro, meanwhile, was built atop the company's larger MLB platform that's used almost exclusively for Audi models, including the A5, which is also a coupe.
Under their hoods, the 2010 Quattro concept simply employs a version of the same 2.5-liter engine used in the TT RS, tuned to deliver 408 horsepower, while the Sport Quattro goes nuclear with a twin-turbo V8 hybrid powertrain that develops 700 hp and 590 pound-feet of torque. Both, of course, employ quattro all-wheel drive just like their forebearer.

Audi bringing TT Clubsport Turbo concept to Worthersee

Is the world ready for an Audi TT with 600 horsepower? Well it had better be, because that's exactly what Ingolstadt has in store for this year's GTI-Treffen at Worthersee, Austria. Billed as a "technology concept," this TT show car packs a 2.5-liter inline-five with two electric turbochargers. Audi is developing electric turbos for its diesel engines, but has found a performance application here in a gasoline engine. The result is a whopping 600 horsepower and 479 pound-feet of torque, driving all four wheels through a six-speed manual transmission. Weighing in at 3,078 pounds and with those electric turbos spooling up quick, it's said to reach 62 in 3.6 seconds en route to a top speed of over 192 miles per hour. In a TT. The turbos are powered by a 48-volt electrical system, juiced by a compact lithium-ion battery in the trunk that can store regenerated power. It's also got a coilover suspension and electric jack to get over obstacles like curbs and speed bumps. The whole thing rides on 20-inch alloys with a two-tone finish, with carbon-ceramic discs to keep it all in check, and as you can see, a rather aggressive-looking widebody aero kit. All of which makes for a rather stunning concept, even if its encroachment on the R8 means it will likely never see production. Related Video: Ingolstadt/Reifnitz, 2015-05-08 Tremendous thrust right from the start: the Audi TT clubsport turbo technology concept car - Premiere at Worthersee: show car has 2.5 TFSI and electric biturbo - 441 kW (600 hp) and 650 Nm (479.4 lb-ft), 0 to 100 km/h (62.1 mph) in 3.6 seconds - Development chief Prof. Dr. Hackenberg: "Technology close to production readiness" Wide add-on parts, a powerful rear wing and a power output of 441 kW (600 hp) – the Audi TT clubsport turbo impresses with its power and design. From May 13 to 16, Audi will be showing its technology concept car on the Worthersee Tour in the Austrian town of Reifnitz. The inspiration for the show car came from the successful Audi 90 IMSA GTO of the late 1980s. A new technology is making its debut under the hood. The car's electric biturbo adds even more dynamism to the driving experience with its spontaneous response. "The electric biturbo signifies a new dimension in driving enjoyment; it boosts sprinting ability and torque and enables high peak power," explains Prof. Dr. Ulrich Hackenberg, Audi Board Member for Technical Development. "In our TDI engines, we are close to production readiness with this technology.