Hyundai may not maintain its EV sales momentum if it can no longer qualify for U.S. tax credits under the Biden Administration’s Inflation Reduction Act.
U.S. enters an agreement that 30% of new medium and heavy-duty vehicles will be zero-emission by 2030 and 100% by 2040.
South Korea wants a three-year grace period on the U.S. Inflation Act to enable Korean automakers to keep receiving U.S. electric vehicle (EV) incentives.
Federal agencies would have purchased more EVs had it not been for supply chain hurdles, the White House reported.
BMW Board Chair Olive Zipse says the move will put vehicle ownership out of reach for many people, and could be politically dangerous.
The grants will fund projects designed to boost U.S. manufacturing of electric vehicle batteries and domestic mineral production.
The president reaffirmed his understanding and willingness to cooperate with South Korea’s concerns.
Japanese Industry Minister Yasutoshi Nishimura expressed concern that a new U.S. law on tax credits for electric vehicles may violate international law.
Reaching the Biden Administration’s goal of 50% of U.S. new vehicle sales being BEVs by 2030 is unlikely, says Jack Hollis of Toyota in a webinar.
Sixteen now stand together in challenge to the EPA's tougher vehicle emissions rules that rollback reduced rules set under the Trump Administration.
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