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GM, Ford, Toyota, Stellantis CEOs want EV tax credit cap lifted

For just over a decade now, the U.S. has had a federal tax credit worth up to $7,500 for buyers of electric cars and plug-in hybrids. The catch has been that, once 200,000 of them were claimed for a manufacturer, that credit would be phased out. Now, automakers are asking for this cap to be lifted across the board, specifically General Motors, Ford, Toyota and Stellantis. The request comes in the form of a joint letter to Congress (which you can read here), signed by the CEOs of each company. And the ask really is as simple as that. The automakers would like the cap lifted for all EV manufacturers, and instead have a sunset date for the tax credit put in place. Broadly speaking, they want it lifted because of concerns about rising costs from materials and supply chain issues, which can lead to higher prices and could discourage buyers from getting an EV. It would also put automakers back on an even playing field. GM reached its tax credit cap a few years ago, meaning that none of its EVs are eligible for the tax credit. So while it reaped the benefits early on, it now has something of a disadvantage to competitors with credits remaining, such as those that signed on to this letter. GM wouldn't be the only beneficiary. Tesla ran out of credits years ago, too. Nissan still has credits, but likely not for much longer, as InsideEVs reports around 190,000 Leafs have been sold in the U.S. as of April. So it will probably face a phase-out soon, just as the anticipated, and more expensive, Ariya is heading to market. Making this change would also seem like a good choice for continuing to stimulate EV sales, if that's what the government is looking to do. While EVs are now reaching parity in practicality and performance with gas-powered cars, having an additional financial incentive will surely keep them looking more attractive. And automakers can push EVs without fear of running out of credits early. Certainly some sorts of changes to the EV tax credit are likely. There are bills in the works focusing on cap changes as well as the amount of money available, and which vehicles are eligible. Credits up to $12,500 have been proposed, plus possible credits for used EV sales and restricting some credits to vehicles of certain price brackets. Of course, any changes will require some cooperation in a deeply divided Congress. Related Video: Government/Legal Green Chevrolet Chrysler Ford Toyota Electric EV tax credit

Ford, Volvo join Redwood in EV battery recycling push in California

Ford and Volvo will join battery recycling startup Redwood Materials in developing processes, starting in California, to collect end-of-life batteries from electric and hybrid vehicles and recover the materials for use in new batteries, the companies said Thursday. Redwood Materials, co-founded by former Tesla executive JB Straubel, formed an earlier partnership last fall with Ford to develop a “closed loop” or circular supply chain for electric vehicle (EV) batteries, from raw materials to recycling. On Thursday, Redwood Materials said it would work directly with dealers and dismantlers in California to identify and recover end-of-life battery packs. The materials in those packs will be recovered and recycled at Redwood Materials facilities in northern Nevada. U.S. automakers Ford and General Motors Co (GM) have said the battery recycling effort is crucial in efforts to develop a domestic supply chain to meet increasing EV demand. GM and battery partner LG Energy Solution last year announced a partnership with startup Li-Cycle to recycle battery scrap material from Ultium Cells, the GM-LG joint venture that is building battery plants in Ohio, Tennessee and Michigan. Redwood Materials has similar partnerships with battery makers Panasonic in Nevada and Envision AESC in Tennessee, as well as with Amazon. Ford and Amazon are among the investors in Redwood Materials. Reporting by Paul Lienert in Detroit; Editing by Mark Potter Green Ford Volvo Green Automakers Electric

GM, Ford and FCA expected to extend coronavirus shutdown into April

U.S. automakers General Motors, Ford and Fiat Chrysler are expected to extend their current shutdown in North America into the month of April as the fight to slow the spread of the coronavirus continues. At this point, the exact dates that Detroit's Big Three automakers will restart vehicle production remains up in the air. Ford said in a statement that it does not plan to restart production until at least April 6 but warned it could be further delayed into April. United Auto Workers President Rory Gamble sent a letter to union members saying that FCA had "no plans to reopen on March 30." GM has yet to confirm its plans — its last statement said the decision when to reopen "will be reevaluated week-to-week after" March 30 — but unnamed sources told Reuters that it will also comply with Michigan Governor Gretchen Whitmer's order barring non-essential businesses from operating until April 13. Gamble's letter said the union is "waiting to hear from GM and are demanding that they put our membersÂ’ safety first and adhere to government and health officialsÂ’ recommendations to stay-at-home." A spokeswoman for Whitmer was unable to clarify on Tuesday whether auto production is considered essential or not. Michigan has declared vehicle sales by auto dealers to be impermissible under the order, but dealerships and other facilities can make repairs.  The UAW also said two Fiat Chrysler union members — one in Indiana and one in Michigan — have died after contracting the coronavirus. A group representing major U.S. and foreign automakers warned in a letter to U.S. lawmakers with other industry groups on Monday that, "Auto industry analysts are expecting sales to be down by as much as 40 percent in March compared to 2019." The letter said 95% of North American auto plants are currently closed. Reuters contributed to this report. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Government/Legal Hirings/Firings/Layoffs Plants/Manufacturing Chrysler Fiat Ford GM coronavirus