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Inflation Reduction Act

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Volkswagen to focus on US battery plant while it awaits incentives of ‘EU Green Deal’

Volkswagen battery plant

Volkswagen Group is reportedly pausing previously laid out plans for battery plants across Europe as it awaits the EU’s response to the Inflation Reduction Act in the US, which could offer the Group up to $10.5 billion in incentives. For now, Volkswagen will continue it progress in choosing a location of a US battery plant while it awaits what sort of conditions and/or incentives will come into play in what is being called the “EU Green Deal.”

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Here’s how much money you’ll get with the Inflation Reduction Act

inflation reduction act calculator

The big climate, energy efficiency, and EV bill – the Inflation Reduction Act (IRA) – became law in August. It’s packed with loads of rebates and tax credits that will help Americans purchase everything from electric vehicles to high-efficiency electrical appliances to heat pumps. If you’re ready to electrify but you’re not sure which rebates and tax credits you qualify for, then check out this easy-to-use IRA savings calculator from Rewiring America.

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The Chevy Bolt is a screaming deal – at least until April 18

GM bolt production

The Chevy Bolt is already a great enough deal to get our Electrek Vehicle of the Year award, but after the US Treasury delayed its guidance on battery sourcing requirements, that deal might be even better – but only for the next couple of months.

Update: Treasury finally released its battery guidance, which means the Bolt will likely lose half of the EV tax credit on April 18, the day after the proposed rule goes into effect. If you can manage to find one and “put it into service” before that date, you can still qualify for the full $7,500 tax credit.

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Here are the cars eligible for the $7,500 EV tax credit in the Inflation Reduction Act in 2023

electric inflation reduction act EV tax credit senate congress

The Inflation Reduction Act, the major climate bill, was signed August 16, changing the availability of electric vehicle tax credits. The law is still in the process of being implemented, so tax credit qualifications continue to change as the IRS offers further guidance. This post intends to break down the current eligibility requirements for the EV tax credit as they continue to be updated.

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Europe says Biden’s IRA isn’t fair play for the global EV future

President Biden

What’s good for America isn’t necessarily good for your friends across the pond – at least that is the central message to an urgent call to action from the EU this week against what it sees as “discriminatory” tax credits and incentives against European and Asian carmakers in the groundbreaking new Inflation Reduction Act. 

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