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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 will show all-electric 'sporty SUV' in Frankfurt

Audi is launching a fully electric crossover in 2018, and the brand is finally giving the world a look at what to expect with the E-Tron Quattro concept at the 2015 Frankfurt Motor Show. Previewed ahead of the event in these five sketches, the vehicle packs a heap of cutting-edge tech, including beautiful matrix laser OLED headlights, to be as efficient as possible. Audi maintains that it offers a range of over 311 miles, too. For such a green model, the design is surprisingly aggressive with a upright grille in front and angular panels elsewhere. The rear sketch shows the design tapering at the back to improve aerodynamics, though. Active aero parts at the front, sides, and rear further let the E-Tron Quattro concept slice through the air. When combined with a flat underbody, the drag coefficient is claimed to be a segment-best 0.25 cd. Audi also asserts the length is between a Q5 and Q7, which lends credence to speculation that the production version might be called the Q6. Underneath the muscular design is Audi's MLB 2 platform from the latest Q7. Three electric motors provide the all-wheel drive propulsion: one at the front and two on the rear axle. Located underneath the passenger compartment is a lithium-ion battery that uses cells from LG Chem and Samsung SDI. The interior seats four, and the driver is nestled into a wrap-around cockpit with a high center console. The front displays use OLEDs with gesture controls, and the rear passengers also get their own infotainment systems. Related Video: Outlook on series production – the Audi e-tron quattro concept at the IAA 2015 • The latest battery technology and top aerodynamics ensure a range of more than 500 kilometers (310 miles) • Sporty SUV with all-electric drive in series production from 2018 Ingolstadt/Frankfurt am Main, August 19, 2015 – Electric driving at Audi is a pleasure, not a compromise. The brand is demonstrating this with the Audi e-tron quattro concept at the International Motor Show (IAA) 2015 in Frankfurt. The sporty SUV provides an outlook on the brand 's first large-series electric car. The Audi e-tron quattro concept is designed from the ground up as an electric car and proves to be pioneering in its segment at the very first glance. It follows the Audi "Aerosthetics" concept, combining technical measures for reducing aerodynamic drag with creative design solutions. Movable aerodynamic elements at the front, on the sides and at the rear improve the air flow around the car.

2015 Audi RS5 Coupe Sport is one of 75

Audi has released a new limited edition of its V8-powered RS5, with the 2015 Sport edition. Limited to just 75 units and designed by the German manufacturers Exclusive customization team, the stylish RS5 starts at $87,575. That's nearly $17,000 more than the standard RS5, although you might struggle to see why. The Sport adds beautiful 20-inch 5-V-spke wheels, along with plenty of nice leatherwork in the cabin. That includes the black-and-Crimson-Red Nappa leather seats, which feature an embossed RS logo in the seatback, as well as Crimson Red leather door inserts. Contrast stitching in the leather-wrapped wheel and shifter boot match the shade on the seats and door inserts. Audi will paint the limited-edition RS5 in either Daytona Gray or Nardo Gray for no charge or, if you're willing to pay a bit more, you can chose from one of the shades from the manufacturer's Exclusive catalog. There's no mention of how much these custom hues will cost, though. Beyond that, the RS5 Sport is the same thumper that's been on sale for several years, with a 4.2-liter, 450-horsepower V8 under the hood and a seven-speed, S-Tronic transmission dispatching power to a Quattro all-wheel-drive system. Featured Gallery 2015 Audi RS5 Sport View 9 Photos News Source: Audi Audi Coupe Luxury Performance