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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.

2021 BMW M3 and M4 vs all the high-powered sport sedans and coupes

Should you have a found a way to get past that schnoz, you've probably digested some of the basic specs for the all-new 2021 BMW M3 sedan and M4 coupe specs. They're plenty impressive. There's also, basically, two sets of them thanks to the regular and Competition versions that differ in engine output and transmission type.  But how do they compare to other ultra sport sedans and coupes? Well, we were wondering that too, so we fired up the Autoblog Comparison Spreadsheet Generator 5000 (aka me chained to my computer in a dark basement).  Sadly, there are surprisingly few competitors for the 2021 BMW M3. Rival sedans include the Mercedes-AMG C 63 and the Alfa Romeo Giulia Quadrifoglio, along with the Audi RS 5 Sportback sedan/coupe/hatchback thing. There's no more Lexus IS F, the Cadillac CT4 Blackwing has yet to arrive and Jaguar doesn't offer a spicy XE R.  Happily, there are more coupe rivals for the 2021 BMW M4, including the two-door versions of the AMG and Audi as well as the Lexus RC F. I also included the Ford Shelby GT350 and Chevrolet Camaro SS 1LE. On paper, they align incredibly well. On the street and on a track, I can personally attest that these Americans are fully capable of keeping up and/or bettering the fancy-pants luxury brands (and let's not forget there are even more powerful, hardcore versions available). If they don't align in terms of price or prestige, whatever. OK, let's get to the spreadsheet. Let's start with the coupes and note that I didn't bother listing the dimensions for the M4 Competition and C 63 S as they are identical to their "lesser" siblings.  I won't bother burning words explaining what you can see on the chart. Instead, I'll point out a few things that stood out to me. First, BMW M comes awfully close to matching the output of AMG's twin-turbo V8 despite having two fewer cylinders. Similarly, Audi manages to better the 0-60 time of the M4 Competition and tie the C 63 S despite being WAY down on power. It's not like it weighs less. Magic? Second, and speaking of 0-60 times, remember the importance that transmission and drivetrain make with them. It's not just horsepower and torque. An automatic will be quicker and easier to launch than a manual, while all-wheel drive provides more instantaneous and beneficial grip.

GM puts e-commerce shopping in car dashboards

DETROIT — General Motors on Tuesday said it will equip newer cars with in-dash e-commerce technology, betting it can profit as drivers order food, find fuel or reserve hotel rooms by tapping icons on the dashboard screen, instead of using smartphones while driving. GM's Marketplace technology, developed with IBM, will be uploaded automatically to about 1.9 million model-year 2017 and later vehicles starting immediately, with about 4 million vehicles across the Chevrolet, Buick, GMC and Cadillac brands equipped with the capability in the United States by the end of 2018, GM said. GM will get an undisclosed amount of revenue from merchants featured on its in-dash Marketplace, Santiago Chamorro, GM vice president for global connected customer experience, said during a briefing for reporters. Customers will not be charged for using the service or the data transmitted to and from the car while making transactions, he said. "This platform is financed by the merchants," Chamorro said. GM will get paid for placing a merchant's application on its screens, and "there's some level of revenue sharing" based on each transaction, he said. It is too soon to say how much revenue GM could realize from the Marketplace system, he said. The GM Marketplace will compete for customer clicks and revenue with hand-held smartphones, which offer a far richer array of applications than the GM system will at the outset. Amazon.com is partnering with other automakers, including Ford, to offer in-car e-commerce capability through Amazon's Alexa personal assistant system. For example, GM will launch Marketplace with just Shell and Exxon Mobil icons in the fuel category. The only restaurant available for in-car table reservations at launch is the chain TGI Fridays, GM said. In addition, there will be apps for parking, and ordering ahead at coffee shops and restaurants such as Starbucks, Dunkin' Donuts and Applebee's. "We will be adding more vendors," with some coming in the first quarter of 2018, Chamorro said. In addition, he said GM plans to expand integration into its vehicles of music, news and other information services. GM also hopes to use its in-car Marketplace connections to expand purchases of products and services, such as additional access to in-car wifi, from its own replacement parts business and dealer network. Customers can "expect to see more service promotions coming through the platform," Chamorro said. Reporting by Joe WhiteRelated Video: