U.S. Sen. Warnock: Electric Car Tax Credit Needs ‘Flexibility’
U.S. Sen. Raphael Warnock urged the U.S. Treasury secretary to use “maximum flexibility” in implementing a revised tax credit for Americans buying electric vehicles, a perk that Hyundai stands to lose as the automaker invests billions of dollars to open its first American EV plant in the Democratic senator’s home state of Georgia. Warnock sent a letter to Treasury Secretary Janet Yellen raising concerns that the Inflation Reduction Act could place some automakers at a competitive disadvantage. That’s because the new law says the credit of up to $7,500 only applies if the EVs and their batteries are manufactured in North America. The Hill reports that vehicles made by South Korea-based Hyundai would no longer qualify for the credit until the company starts producing EVs in Georgia, which isn’t expected until 2025. “I urge you to offer maximum flexibility for vehicle manufacturers and consumers to take full advantage of the electric vehicle tax credits available under the law,” Warnock’s letter said. The Treasury Department is responsible for adopting regulations to carry out revisions to the EV tax credit approved by Congress. Warnock’s letter doesn’t request any specific remedy from the department. Click here for the full story.
Survey Finds 74% of Participants Prefer to Buy EVs at Dealerships
EV owners and prospective buyers expect automakers to offer both an online and in-person shopping experience, according to the 2022 EVForward Dealer DeepDive. The EVForward team, part of advisory firm Escalent, works to capture the attitudes, behaviors, and opinions of the next generation of EV buyers. The 2022 Dealer DeepDive report surveyed 1,289 people, of which 88 are EV owners. The results? Prospective buyers want to use both online and in-person resources to buy an EV, reports Automotive News. The report suggests both legacy and EV specialist automakers offer an omnichannel buying experience, said K.C. Boyce, Escalent's vice president of powertrain innovation and energy transformation. The dealership will remain a pivotal part of an EV intender's shopping experience, according to the report. The survey finds 74 percent of respondents would prefer to buy an EV at a dealership, rather than from an auto manufacturer or third party. Click here for the full story.
How Cox Automotive Mobility Is Using Innovation to Improve the EV Battery Lifecycle
Billions are being invested in the design and production of electric vehicles as well as the infrastructure to support them. Recently Cox Automotive Mobility announced the expansion of their global EV battery service center network with Spiers New Technology to promote innovation throughout the entire EV battery lifecycle. Lea Malloy, Head of Electric Vehicle Batter Solutions at Cox Automotive, joins CBT News’ Inside Automotive to tell more. Electric vehicles are a hot topic across all industry segments, and despite some pushback, it seems like all vehicle manufacturers are moving toward an electric future. The new EV battery service center network will offer massive support to manufacturers, dealers, and fleet operators as they manage this transition. Malloy notes that Cox Automotive’s commitment to the space starts with core company beliefs about electrification. She says that electric vehicles are undoubtedly poised to become the dominant form of transportation for people and goods throughout the US and Europe. According to her, Cox is passionate about its ability to help curb climate change and reduce greenhouse gas emissions and that the electric vehicle takes center stage for that goal right now. Click here for the full story.
Hydrogen Fuel-Cell Vehicles: Everything You Need to Know
You've likely heard a lot about electric vehicles lately, as well as news about legislation to reduce carbon emissions from vehicles. But there's another kind of zero-emission vehicle, one that emits only water vapor as it carries you down the road. That's the hydrogen fuel-cell vehicle, related to an EV but with specific differences that make hydrogen cars different and much rarer. To date, about 2.5 million EVs have been sold in the U.S. By contrast, as of mid-2022, 15,000 or fewer hydrogen-powered vehicles can be found on U.S. roads, Car and Driver reports. All of them will be in California, the sole state with a network of retail hydrogen fueling stations to make the cars usable. Since 2015, three hydrogen -powered cars have been offered for sale from three different car companies: the Honda Clarity Fuel Cell, the Hyundai Nexo SUV, and the Toyota Mirai. But Honda has now ended production of all models of the Clarity, and Hyundai has sold fewer than 1,500 Nexo SUVs thus far. Toyota, has sold roughly 10,700 Mirai sedans across two generations in the U.S. Click here to learn more about hydrogen fuel-cell vehicles.
Analyst Guardedly Optimistic About BEVs’ Future in U.S.
Providing a reality check for an industry trying to transition to all-electric cars, a top U.S. transportation analyst says to expect a range of obstacles — some regulatory, others technological — until shortages in critical battery materials, many of which come from China, are overcome. “As things stand today,” according to Chris Atkinson, director of the Smart Mobility Initiative at The Ohio State University, “there are some 35 critical materials that we depend on mainly from imports, including lithium, and cobalt.” In a Wards interview, Atkinson declares, “We are trading nominal energy independence for absolute dependence on imported critical battery materials.” He adds, “Electrification of all end processes, such as transportation, will not solve anything in the absence of increasing the amount of renewable and zero-carbon energy on the electrical grid.” And while Atkinson concedes that over time a shift to electric vehicles will put stress on the electric grid, he also feels increased demand can be met. Click here for the full story.
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