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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.

Jay Leno gets pulled over while roaring in a Corvette Z06 convertible

No one is above the law, even if that person is a certain silver-haired auto enthusiast with a popular weekly video series about the cars in his garage. This week, Jay Leno experiences the 2015 Chevrolet Corvette Stingray Z06, but he also gets to have a meeting with some of California's Finest immediately after a high-speed blast. As opposed to the full-bore Z06 coupe with the seven-speed manual, Leno gets behind the wheel of the slightly heavier convertible version with the eight-speed auto. Being a droptop doesn't bother him too much, but Leno makes it obvious he wishes that he could be shifting for himself. Even if the auto is technically quicker, Leno says that swapping gears gives him something to do while driving. Of course, one of the major advantages of the convertible is the ability to listen to the Z06's thumping V8 unimpeded. With 650 horsepower and 650 pound-feet of torque from 6.2-liters of supercharged muscle, it already puts down impressive numbers, but the sound might just be the best part of all. Around town, the 'Vette is quiet enough to easily blend in with the rest of traffic. However, tip the throttle down and the valves in the exhaust open up to turn the engine into roaring monster. Be careful where you make this thing howl, though, because it's pretty easy for the police to take notice. The host finds that out the hard way in this week's episode of Jay Leno's Garage. Related Gallery 2015 Chevrolet Corvette Z06 Convertible View 18 Photos News Source: Jay Leno's Garage via YouTube Celebrities Chevrolet Coupe Performance Videos Jay Lenos Garage chevy corvette stingray chevy corvette z06

Meet Alex Archer, the engineer behind GM's power-sliding center console

In 2009, a GM manager complained to a 59-year-old GM technician about the hassle of retrieving items from a pickup truck bed after driving shifted the cargo. In two days, the tech had come up with the ideas that, ten years later, would debut as the MultiPro tailgate. The engineering teams kept the tailgate secret in part by hiding mock-ups in a locked storage closet in GM's Vehicle Engineering Center in Warren Michigan for two years. A piece in the Detroit Free Press reveals that another storage closet in Warren would play the same role in a different cloak-and-dagger operation, this time for the power-sliding center console in GM's new full-sized SUVs. During a meeting in early 2017, bosses gave the job of the console's creation to 24-year-old design release engineer Alex Archer, just two years out of Stanford University with a degree in engineering and product design.  This time, the catalyst for the feature was an internal GM think tank called co:lab, where employees suggest ideas. Execs gave Archer the task because "They needed someone willing to ask a lot of questions," her 36-month mandate to produce a six-way console that could be a standard cubby or a gaping maw able to swallow four gallon jugs or hide a secret compartment. Clearly, she succeeded. It took Archer and the team nine months to devise a prototype, another six months to get the green light for production. As with the tailgate, the team working on the console grew to include designers, production engineers, and suppliers. Archer, now 26, shepherded the process, and her name is on the patent. "It took a ton of people, I'm just somebody who stuck with it the whole time," she said. GM like her work well enough to produce the "Day in the Life" segment above, five months before the world would hear about the console. Archer's path to engineering was as unlikely as getting the job for the console. She had entered Stanford with plans to be a doctor. But an innovation class during her freshman year, and a sophomore summer spent helping her grandfather rebuild a 1937 MG engine recharted her course. Her grandfather told her, "You know, you could be an engineer for a car company." Consumer reaction to Archer's work won't be far off, the SUVs slated to hit dealerships soon. Meanwhile, she's busy on something that could be just as intense as the console: Restoring a 1955 Packard Clipper in her garage. Head to Freep to check out the story of Archer and the console. Related Video: