🤔Tesla Models Losing Tax Credit in 2024?
Greetings on this fine Thursday! We’re almost at the end of the week. Today, we have some amazing EV news from Morgan, Tesla, Nio, Bentley, VW, and many more. Keep up with the latest trends in the EV world in less than 5 minutes.
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Top 10 EV News Stories Powered by EV.Careers
- Contrary to the narrative of an electric vehicle demand problem, a recent report from BloombergNEF's 2023 zero-emission vehicle factbook indicates that global passenger EV sales are on track to reach 14 million this year, marking a 36% increase from 2022, with the United States experiencing a substantial 50% growth.
- The XP1 is Morgan’s new electric three-wheeler that combines the fun and lightness of the Super 3 with a 150-mile range battery and a custom motor.
- Introducing two fully electric vehicles, the Volkswagen ID. Buzz and ID.3, into its First Response Team fleet at the UK headquarters in Crewe, Bentley Motors aims to lower pollution and meet environmental targets as part of the Beyond100 strategy, with the ID.3 specializing in medical emergencies and daily duties, the ID. Buzz handling emergency equipment.
- Nio will take over certain plant assets, including fixed assets and equipment, from Anhui Jianghuai Automobile Group for $442.19 million, while Hefei Hengchuang Intelligent Technology will acquire the buildings and land use rights of one of the plants, as part of Nio's move towards independent production to reduce manufacturing costs.
- Tesla warns that certain electric car models, including the Model 3 Rear-Wheel Drive and the Model 3 Long Range, will no longer be eligible for the full $7,500 federal electric vehicle tax credit in 2024, with reductions expected to cut credits in half.
- Renault's alliance partners Nissan and Mitsubishi plan to invest up to $647 million and $215 million, respectively, in Renault's electric vehicle unit Ampere, which will be publicly listed next year, to develop electric vehicles for the European market.
- Stellantis is reintroducing the all-electric Fiat 500e to the U.S. market, set to be initially offered as a special edition "(500e)RED" model starting at $34,095 early next year, marking Stellantis' first all-electric vehicle in the U.S. since its formation in 2021.
- The European Union has proposed a three-year delay to the tightening of rules that would have triggered import tariffs on many electric vehicles traded with the UK.
- South Africa's automotive industry is expected to produce its first electric vehicle in 2026, with discussions ongoing with automakers and plans outlined in a 68-page EV strategy.
- Michigan Governor Gretchen Whitmer signed an executive order mandating state government agencies to replace aging vehicles with electric or other zero-emission models, requiring all cars and light-duty vehicles to be zero emissions by 2033, and medium and heavy-duty vehicles by 2040.
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