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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.

2016 Chevy Volt ads strike frustrating, yet familiar, chord

Sometimes, it's hard to let go. In the six years that GM has been advertising and selling the Chevy Volt, one dominant message is that the car is an EV without any range anxiety. On the one hand, this is a positive thing: our car does something that other electric vehicles don't. Of course, there's another, more reasonable take on the message that EVs only equal limited range: don't promote this viewpoint if you ever plan on selling a pure EV. But, of course, this is exactly what GM is doing with a new ad for the 2016 Chevy Volt. Called Elevator, the spot (watch it above) compares driving an all-electric car with riding in an elevator getting stuck. Your Nissan Leaf might run out of electricity, the ad says, and that would be as uncomfortable as being trapped between floors. The main problem, of course, is that Chevy also offers the Spark EV and is getting ready to sell the Bolt EV. Does the company think that everyone will forget these anti-EV commercials when it come time to shop for a Bolt? Even worse, does GM think we've forgotten the Anthem ad for the Volt back in 2010? Apparently, so. Elevator isn't the only ad for the 2016 Volt that GM debuted today. The other, called Time Capsule (below), takes a swipe at the Toyota Prius. Trouble is, there are two easy ways to dismiss this ad as well. First, and most obviously, if GM is against using old technology, then why does it continue to shove a 100-year-old fossil fuel engine into almost every car it builds? Second, attacking the Prius for using 15-year-old tech – when said tech is still able to mop the floor with any hybrid from GM in the fuel economy race - is more like an admission of defeat than anything to be proud of. "Hey look, the Prius uses technology from the '90s," GM says. To which the observant viewer will ask, "Well, then why can't you build a 50-mile-per-gallon hybrid, GM?" It's also worth noting that Chevy has been on a misguided advertising streak as of late. We bashed their ads that suggested its Silverado is better than the F-150 because it uses steel instead of aluminum, too, especially since those commercials used shark cages and stupid superhero costumes in an attempt to make a point. Chevy, stop assuming we're all idiots. Please. Now, the 2016 Volt is a great car and I know that GM can make a darn good Volt ad (like this one), so seeing the company shoot solid fuel-efficient technologies in the back (again and again) is just frustrating.

Chevy to reveal new Spark in Seoul and New York

Chevy is preparing to roll out an all-new Spark next month, giving us a taste of things to come with the teaser image above. The new Spark is set to debut simultaneously at car shows in Seoul and in New York on April 2, joining the new Malibu that will also mark its debut at the Manhattan expo. Why introduce the new Spark at the same time in South Korea and in the US, you ask? Probably because those are the two biggest markets for Chevy's smallest car, accounting for the lion's share of the 1.1 million units sold in 71 markets around the world since its introduction in 2009. Chevy hasn't revealed much about the new Spark, except to say that its styling will be more sophisticated than the "youthful whimsy" of the current model. A Spark of Sophistication Chevrolet's redesigned global minicar to debut in Seoul and New York on April 2 2015-03-09 DETROIT – The all-new 2016 Spark will debut on April 2 at the Seoul and New York auto shows, Chevrolet announced today. A sleeker, more aerodynamic profile and a progressive take on Chevrolet's signature design cues will give the redesigned Spark a more sophisticated aesthetic that reflects the changing tastes of the global minicar market. "The new Spark's design has evolved and grown up with the segment," said Michael Simcoe, GM International vice president of Design. "The youthful whimsy of the original Spark is still in its genes, but it is conveyed in more traditional proportions that reinforce the customer's refined expectations." Chevrolet has sold more than 1.1 million Sparks around the world since it went on sale as the Beat in India in late 2009. Today, the Spark is available in 71 markets worldwide, selling the most in South Korea, followed by the United States and Mexico. Spark is attracting younger and first-time car buyers to Chevrolet with 26 percent being under the age of 35. Sales of the Spark in the U.S. are up 32 percent in the first two months of 2015 versus the same period in 2014. Founded in 1911 in Detroit, Chevrolet is now one of the world's largest car brands, doing business in more than 115 countries and around 4.8 million cars and trucks a year. Chevrolet provides customers with fuel-efficient vehicles that feature engaging performance, design that makes the heart beat, passive and active safety features and easy-to-use technology, all at a value. More information on Chevrolet models can be found at www.chevrolet.com.