The U.S. Department of the Treasury and the Internal Revenue Service (IRS) have released new guidance as part of the Biden-Harris Administration’s Investing in America agenda. Effective January 1, 2024, the guidance allows consumers to instantly transfer their clean vehicle tax credits to car dealers at the point of sale, reducing the purchase price of […]
The U.S. Treasury Department is set to release guidance on battery sourcing requirements for electric vehicle (EV) tax credits by Friday, which may lead to fewer vehicles receiving full or partial credits, according to a U.S. official, reports Reuters. The Treasury postponed the proposed guidance on battery sourcing rules until March, allowing some EVs that […]
General Motors wants the U.S. Treasury to reconsider its eligibility criteria for electric vehicle (EV) tax credits available under President Joe Biden’s recently-signed Inflation Reduction Act (IRA) — reports Yahoo Finance. The news comes after the Treasury and the Internal Revenue Service (IRS) did not classify GM’s all-electric Cadillac Lyriq as an SUV, denying it federal EV […]
The U.S. Internal Revenue Service (IRS) has invited public comments on the eligibility criteria for electric vehicle (EV) tax credits under President Joe Biden’s recently-signed Inflation Reduction Act (IRA). 💥 Make your voice heard! The period for written public comments on the IRA EV Tax Credit is open. Tax subsidies should be an even playing […]
Heading into a meeting with U.S. President Joe Biden and Mexican President Andres Manuel Lopez Obrador on Wednesday, Canadian Prime Minister Justin Trudeau said he was “a little bit concerned” about the U.S.’s proposed increase in electric vehicle (EV) tax credits for locally assembled, union-built cars — reports Global News. “We are a little bit […]
Tesla has depended largely on the sale of regulatory credits to other automakers that didn’t meet emissions requirements in past years to retain a high level of profitability. Stellantis, the owner of Fiat Chrysler Automotive and France’s PSA group said it plans to meet its emissions targets this year, without having to purchase them from […]
