By Kelley R. Taylor From Kiplinger’s Personal Finance When the Inflation Reduction Act passed in 2022, it ushered in an electric vehicle tax credit worth up to $7,500. This EV tax credit has caused some confusion ever since partly because of the rules on price limits as well as the manufacturing, sourcing and assembly of…
Britishvolt: Australian EV Battery Startup Completes Takeover of UK Venture
February 27, 2023
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Australian startup Recharge Industries has confirmed that it has completed the takeover of Britishvolt—the UK company that failed to build a battery factory in northeast England. Founded in 2019, Britishvolt had promised to build a £3.8 billion ($4.6 billion) gigafactory to produce batteries for electric cars in Blyth, Northumberland. The company said it would employ…
Tesla Making Some EV Chargers Available to All, as White House Announces New EV Rules
The Biden administration announced final new rules shaping the electric vehicle (EV) landscape Wednesday, with a $7.4 billion investment in EV charging, while EV maker Tesla is opening up proprietary charging stations to all. The White House announced in a press release that $7.4 billion of the federal budget will be allocated for EV charging…
Australian Car Battery Start-Up Is Frontrunner to Buy Britishvolt
February 6, 2023
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An Australian firm has been selected as the preferred bidder to take over the majority of British electric car battery business Britishvolt, which fell into administration last month. Britishvolt had been promising to build a £3.8 billion gigafactory producing batteries for electric cars in Blyth, Northumberland. It said it would employ 3,000 people and produce…
IRS Changes Definition of ‘SUV,’ Making More Vehicles Eligible for Tax Credits
The Internal Revenue Service (IRS) modified the regulatory definition of a sport utility vehicle (SUV) to make more vehicles eligible for an electric vehicle (EV) tax credit of up to $7,500. In a notice issued on Feb. 3, the IRS and the Department of the Treasury jointly changed the vehicle classification standard by which vans,…
Australian Firm Launches Bid to Rescue Collapsed UK Battery Company Britishvolt
An Australian start-up has launched a rescue bid for British electric car battery business Britishvolt, which was once praised by former Prime Minister Boris Johnson but fell into administration last week. Recharge Industries said it lodged a late takeover bid on Tuesday for the firm, a week after Britishvolt collapsed and made the majority of…
Electric Vehicle Tax Credit: Who Will Qualify in 2023?
Americans looking to purchase an electric vehicle (EV) could qualify for a tax credit of up to $7,500 in 2023 as part of the Biden administration’s push to ensure that half of all new vehicles sold in 2030 are electric or plug-in electric hybrids. The tax credits were created as part of President Joe Biden’s Inflation Reduction Act, signed…
Tesla Shares Tank After Doubling US Discounts on Key Models
Tesla Inc shares tanked on Thursday after the luxury electric car maker started offering $7,500 discounts on Model 3 and Model Y vehicles delivered in the United States this month, fueling concerns the company is facing softening demand as economies slow. On Dec. 1, Tesla started offering a $3,750 “credit” on Model 3 and Model…
Australians Break Record for Fastest Electric Car in the World
December 21, 2022
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An Australian solar-powered car weighing a quarter that of a Tesla has provisionally broken the record for the fastest electric vehicle (EV) in the world. Built from scratch by a group of 45 engineering students, the car travelled at an average speed of nearly 85 kilometres per hour and set the “unofficial” team record for…
Hong Kong Government to Mandate Acoustic Vehicle Alert System Installation on All Electric and Hybrid Vehicles
The Hong Kong government has submitted a plan to the Legislative Council to mandate that all-electric vehicles (EV) and hybrid vehicles must have an acoustic vehicle alert system (AVAS) installed. This follows similar legislation in America, Europe, Japan, China, and the UK. The authorities believe that electric vehicles are quieter than traditional vehicles while moving,…
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