2024 Volkswagen Jetta 1.5t Se 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.

Volvo, Daimler, Traton join forces to build electric truck charging network

Volvo Group, Daimler Truck and Volkswagen's AG heavy-truck business the Traton Group announced on Monday a non-binding agreement to build a network of high-performance public charging stations for electric heavy-duty long-haul trucks and buses around Europe. The news was first reported by Reuters. The three major European automakers will invest ˆ500 million (~$593 million USD) to install and operate 1,700 charging points in strategic locations and close to highways. They intend to finalize the agreement by the end of this year and start operations next year, with the hopes of increasing the number of charge points significantly as the companies seek additional partners for the future joint venture. The venture is meant to be a catalyst to prepare for the European Union's goals of carbon-neutral freight transportation by 2050. One of the main deterrents for both individuals and freight companies for switching to EVs has historically been a lack of charging infrastructure. By building that infrastructure, Volvo, Daimler and Traton can also expect to boost their own sales of electric trucks and buses. “It is the joint aim of EuropeÂ’s truck manufacturers to achieve climate neutrality by 2050," Martin Daum, CEO Daimler Truck, said in a statement.  "However, it is vital that building up the right infrastructure goes hand in hand with putting CO2-neutral trucks on the road. Together with Volvo Group and the Traton Group, we are therefore very excited to take this pioneering step to establish a high-performance charging network across Europe.” The partnership between Volvo and Daimler isn't unprecedented. In May, the two competitors teamed up to produce hydrogen fuel cells for long-haul trucks to lower development costs and boost production volumes. This latest venture is another signal that major companies are banding together to solve climate-related issues in the industry. European car industry association ACEA has called for up to 50,000 high-performance charging points by 2030. Traton CEO Matthias Gruendler told Reuters that roughly 10 billion euros would be needed to build out Europe's infrastructure to be fully electrified by 2050. According to a statement released by Volvo, this venture is also a call to action for others with a stake in the industry, like automakers or governments, to work together to ensure the rapid expansion needed to reach climate goals.

Five reasons to love, or hate, the culture of German cars

A few months back, we took a 500-foot view of the culture of American cars, dissecting prides and prejudices on our way to the conclusion that automotive allegiances can be simultaneously embraced and derided. We had so much fun with the narrative that we decided to do it again, this time taking a look at Germany and its world-renowned lineup of automakers, including the likes of Audi, BMW, Mercedes-Benz, Porsche and Volkswagen, among others. Join us below as we discuss the points and counterpoints that make or have made the German auto industry what it is today. And remember, Germany did pretty much invent the automobile, after all... The V12 Engine If America is known for the proliferation of the V8 engine, an argument could be made that Germany owns the V12. Yes, of course, other companies have created V12 engines – Ferrari, Jaguar and Lamborghini immediately come to mind – but the big 12-cylinder powerplants from BMW and Mercedes-Benz, in particular, have proven to be some of the most effortless, luxurious and downright over-built engines the world has ever seen. These days, having 12 cylinders is more a case of wretched excess than ever before, and yet, you can still stroll into your local BMW or Mercedes dealership and get a brand-new 760i, S600 or even an over-the-top G65 AMG, efficiency be damned. Best of all, since the majority of these German powerhouses depreciate as fast as an anchor sinks, nearly any auto enthusiast who dreams of a dozen cylinders can satisfy their carnal desires. Current Star: 2016 Mercedes-Maybach S600 View 28 Photos Diesel Engines Remember how we talked about those glorious V12 engines? Well, you can even get one from Audi that runs on diesel. If your compression-ignition fantasies err more on the side of fuel savings, that's no problem, either. Audi, BMW, Mercedes and Volkswagen have got you covered, with engines starting as small as 800 cubic centimeters (Smart Fortwo). If you want something a little more practical, it's hard to argue with a VW Golf TDI, which will provide plenty of space for you and three of your best friends, plus a fair bit of luggage, all while returning 50-ish miles per gallon. For the purposes of this discussion, we'd rather focus on the asinine levels of torque provided by Germany's high-end diesel engines than the lower-end fuel sippers.