1997 Jeep Cherokee Sport Sport Utility 2-door 4.0l on 2040-cars

Auto blog

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.

Fiat/PSA's dominance in small vans hangs up EU's merger approval

BRUSSELS — EU antitrust regulators are concerned about Fiat Chrysler and Peugeot / PSA's combined high market share in small vans and may require concessions to clear their $50 billion merger, people familiar with the matter said. The companies, which are seeking to create the world's fourth biggest carmaker, were told of the European Commission's concerns last week. If Fiat and PSA fail to dispel the European Commission's doubts in the next two days and subsequently decline to offer concessions by Wednesday, the deadline for doing so, the deal would face a four-month-long investigation. The EU competition enforcer, which has set a June 17 deadline for its preliminary review, declined to comment. Fiat was not immediately available for comment while PSA had no immediate comment. Hiving off overlapping businesses, usually a regulatory demand to ensure more competition, could prove tricky for the carmakers because of the technicalities. Fiat and PSA are looking to merge to help offset slowing demand and shoulder the cost of making cleaner vehicles to meet tougher emissions regulations. The deal puts under one roof the Italian carmaker's brands such as Fiat, Jeep, Dodge, Ram, Maserati and the French company's Peugeot, Opel and DS. Related Video: Government/Legal Chrysler Dodge Fiat Jeep Maserati RAM Citroen Opel Peugeot

Jeep, Ram tease SEMA builds, and one looks like a Ram 1500 TRX PHEV

SEMA is back this year, and shows no signs of cancellation. And that means a whole new crop of custom builds from not only aftermarket companies, but OEMs such as Jeep and Ram. The two brands released teasers of their modified trucks for the show, and there are a couple of seriously intriguing ones. And the most brow-raising is the silver Ram 1500 TRX that could be a plug-in hybrid. What makes us say that? Well, take a look at the badging. The "RAM" badge in the grille is bright blue. And the front tow hooks are blue, too. Those cues are signatures of the Jeep 4xe plug-in hybrid models. And Jeep isn't the only one to utilize blue badging for electrified models. Ram 1500s with the 48-volt eTorque hybrid assist get blue-highlighted badges. So it seems like a slam-dunk that the wide-bodied desert-stomper in the teaser has a hybrid powertrain. We'd bet on it being the 375-horsepower turbo-four from the Wrangler, but maybe Ram put something unique together. The next curious model is what's quite clearly a variant of the military M715 truck. It's undoubtedly this year's restomod, as Stellantis brands are wont to build. Looking closer, it has a very high roof and center-mounted spotlight. Those are cues shared with the M725 ambulance. We wouldn't be surprised if Jeep took one of the old ambulances and turned it into one beast of an overlanding rig. We're excited to see what sort of other upgrades have been done, such as what engine will be powering it. Then we come to the interior of a Jeep Wrangler Unlimited. At first glance, there doesn't seem to be much going on, at least until you look at the roof. The cargo area has a significantly raised section. And there are safari windows letting light in. It will be interesting to see what it looks like from the outside. Finally, we have teasers of what's probably a Wrangler Rubicon 4xe and a Ram 1500. The Wrangler shot is of the front fender, and the Ram is of the rear. They don't show much except what seem to be Mopar accessories. As such, we suspect these are show pieces for the Mopar catalog, and they might each have a couple of concept parts, but are otherwise a bit tame compared to the Jeep and Ram one-offs. All of these trucks will be revealed and on display at the SEMA show in Las Vegas. The show will run Nov. 2-5. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.