Biden Admin Finalizes Stringent Tailpipe Emissions Standards

Mechanic underneath car

The Biden administration unveiled its final tailpipe emissions standards for vehicles Wednesday, effectively requiring about 67 percent of all light-duty vehicles sold after model year 2032 to be electric vehicles (EVs) or hybrids.

The Environmental Protection Agency’s (EPA) finalized standards rolled back some of the de facto EV production benchmarks for manufacturers proposed initially, but still require automakers to reach the final standards set forth in the agency’s April 2023 proposal. The agency finalized the standards as the American EV market is struggling: demand has not grown as quickly as expected, manufacturers are losing billions on their EV product lines, executives have backed away from near-term production targets and Biden administration subsidy programs to facilitate the creation of a nationwide EV charging network have so far failed to make much of an impact.

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Bentley Pushes Back Ambitious All-Electric Goals

Driver getting into his Bently

British luxury carmaker Bentley Motors is pushing back its plans to have an all-electric vehicle (EV) offering by 2030, following other top vehicle manufacturers, according to CNBC.

Bentley had originally planned to transition all of its vehicle sales to EVs by 2030 but announced that it would be looking to delay that change by a couple of years, continuing to offer hybrids through that time, CEO Adrian Hallmark said in a media briefing following the company’s fourth quarter results, according to CNBC. General Motors, Ford, Mercedes-Benz and Honda have all backed off of previously made EV goals in the past year as low demand and high costs have stifled the commodity’s profitability compared to traditional vehicles.

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Gov. Brian Kemp Acknowledges ‘Disappointing’ Pause to Rivian Electric Vehicles Plant After $1.5 Billion in Subsidies

Brian Kemp

Governor Brian Kemp made public remarks about electric vehicle manufacturer Rivian Automotive announcing plans to pause work on its $5 billion plant in Georgia in a Tuesday press event.

Kemp, whose support for the Rivian deal helped generate $1.5 billion in tax incentives for the company, called the situation “no doubt disappointing” in a press conference.

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Rare Earth Mineral Mines Shutter as Demand for Electric Vehicles Plummet

Ablemarle Corporation mining site

A slowdown in the growth of electric vehicle (EV) demand has led to entire mines being shut down as the supply of rare earth minerals essential for EV components exceeds demand, according to The Wall Street Journal.

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Senators Raise Questions about EV Mandates and Subsidies Going to China

The Senate Committee on Energy and Natural Resources has been scrutinizing the intersection of electric vehicle mandates and supply chains to meet them, and how EV subsidies could empower China, which controls a lot of those supply chains.

Sen. Joe Manchin, D-W.Va., chair of the committee, said he doesn’t have any problem with electric vehicles.

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Democrats Support Efforts to Unionize More Auto Plants as EVs Are Projected to Cause Job Losses

Democrats are supporting the United Auto Workers (UAW) labor union’s efforts to unionize more auto plants as electric vehicles are projected to result in job loss across the industry within the next 10 years.

Democrats in Congress passed the Inflation Reduction Act of 2022, which included tax incentives for the purchase of certain electric vehicles as well as funding to expand the EV charging network in the U.S.

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New IRS Guidelines for Electric Car Tax Credit ‘Recipe for Fraud,’ Tax Watchdog Warns

EV Charging Station

New Internal Revenue Service (IRS) guidelines for the federal electric vehicle (EV) tax credit are a “recipe for fraud,” warns the head of the Tax Foundation.

Consumers will now be able to automatically claim the tax credit at the point of sale on new or used EV purchases, rather than wait to claim it on their tax return, according to the latest Treasury Department guidance.

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Study: Cost of ‘Fueling’ an Electric Vehicle Is Equivalent to $17.33 per Gallon

The complete costs of “fueling” an electric vehicle for 10 years are $17.33 per equivalent gallon of gasoline, a new analysis from the Texas Public Policy Foundation says.

The study authors say the $1.21 cost-per-gallon equivalent of charging a car cited by EV advocates excludes the real costs born by taxpayers for subsidies, utility ratepayers for energy investments, and non-electric vehicle owners for mandate-and-environmental-credit-driven higher vehicle costs, which they say total $48,698 per EV. Those costs must be included when comparing fueling costs of EVs and traditional gas-powered vehicles, TPPF maintains.

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U.S. Turns to Country Notorious for Child Labor and Unsafe Mines to Source Its Electric Vehicle Ambitions

In order to facilitate electric vehicle (EV) production, the U.S. is seeking to spend taxpayer dollars to develop cobalt supply chains from the Democratic Republic of the Congo (DRC), a country which is known for high prevalence of unsafe child labor in its mines, many of which are controlled by Chinese interests, The Wall Street Journal reported Thursday.

The United States Agency for International Development (USAID) and the Department of Labor (DOL) are jointly committing $23 million in taxpayer funds to U.S. firms and other mining companies to integrate local Congolese operations and “artisanal” mines into their supply chains, as well as to improve labor standards for miners in the DRC, which are essentially non-existent in most cases, according to the WSJ. Chinese-controlled interests dominate the DRC’s cobalt industry, refining about 75% of the global cobalt supply and manufacturing approximately 70% of the world’s lithium-ion batteries, which are cobalt-intensive products that power EVs.

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Company Behind Michigan Electric Vehicle Battery Plant Registered as Chinese Foreign Organization

The company responsible for a controversial electric vehicle battery plant in Michigan is registered under U.S. law as a foreign entity, filings show.

While the energy company Gotion, Inc. is based out of Fremont, Calif., Foreign Agents Registration Act documents filed by the corporation earlier this year show that it “is wholly owned and controlled” by Gotion High-Tech, which is based out of Hefei, a city in eastern China.

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Major Union Slams Biden over Electric Vehicle Goals

United Auto Workers (UAW) President Shawn Fain criticized President Joe Biden on Tuesday for pushing electric vehicle goals that UAW believes do not result in great enough compensation for workers, according to The Washington Post.

Fain is still withholding an endorsement for the president by UAW after criticizing Biden for low wages at the new Ultium Cells plant, General Motors’ electric vehicle battery project that is jointly owned with LG Energy Solutions, according to the Post. UAW is currently in negotiations with top automakers Ford, GM and Stellantis over a possible strike for the 150,000 U.S. hourly workers represented by the union.

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Georgia Supreme Court Declines to Hear Appeal of Rivian Project’s Bond Agreement

Georgia’s Supreme Court has denied a request to hear an appeal challenging the bond agreement state officials used to lure a controversial electric vehicle manufacturing project to the state.

At issue is a deal the Georgia Department of Economic Development and the Joint Development Authority of Jasper, Morgan, Newton and Walton struck to give $1.5 billion in incentives to electric vehicle manufacturer Rivian Automotive. The company is building a $5 billion plant in Morgan and Newton counties.

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Biden Admin Gives Ford, Foreign Company Whopping $9 Billion Loan for EV Plants

The U.S. Department of Energy (DOE) on Thursday announced a conditional loan of up to $9.2 billion to a joint electric vehicle venture between Ford and Korean battery maker SK On.

When combined with state subsidies offered to the joint venture, known as BlueOval SK, the record-breaking loan means that taxpayers will be financing nearly the entire $11.4 billion investment by Ford and SK, according to Blomberg. The loan is the latest in a series of increasingly large offers from the DOE’s Loan Program Office (LPO), which had its lending authority surge to $400 billion — more than 10 times the $33 billion it has issued since 2009 —following the passage of President Joe Biden’s signature climate law, the Inflation Reduction Act.

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Kemp Says $4.3 Billion EV Battery Plant in Georgia Touted by Ossoff Was ‘Previously Announced’

LG Energy Solution and Hyundai Motor Group plan to jointly build a $4.3 billion electric vehicle battery plant in Georgia, an investment U.S. Sen. Jon Ossoff, D-Georgia, said was possible because of incentives included in the Inflation Reduction Act.

However, a spokesman for Georgia Gov. Brian Kemp disputed that assertion saying it’s part of a previously announced investment that predates the federal legislation.

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EPA Proposes New Standards to Require Two-Thirds of New Car Sales by 2032 Be EVs

The Environmental Protection Agency on Wednesday announced what is being considered its strongest-ever proposed pollution standards for gas-powered vehicles – which if enacted would effectively mandate that 67 percent of new passenger vehicles sold in the U.S. in 2032 must be zero-emission ones.

The rule has been expected for weeks and is a dramatic, proposed increase from President Biden’s stated goal of 50 percent zero-emission passenger car sales – including battery-powered electric vehicles, plug-in hybrids and fuel-cell vehicles – by 2030. It would also likely and dramatically increase EV sales, which accounted for just 5.6 percent of new car sales in the U.S. last year, according to Road & Track.com.

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Georgia’s US Senators Vote for Bill Stripping One of State’s Largest Employers of EV Tax Credits

Georgia’s two senators voted for the Democrats’ recently enacted Inflation Reduction Act, even though it strips South Korean automaker Kia — one of the state’s largest employers — of eligibility for the law’s electric vehicle tax credits.

Kia, which employs thousands in Georgia, is planning to build another automobile factory in the state and hire 8,500 people, according to The Atlanta Journal-Constitution. Due to domestic assembly requirements in the new law, however, the automaker’s EV and plug-in fleet will lose their current eligibility for $7,500 tax credits on the purchase of new electric vehicles.

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Hyundai’s New EV Plant in Georgia Will Produce Gas Cars: REPORT

South Korea-based automaker Hyundai is set to announce a new $7 billion manufacturing electric vehicle (EV) plant in the U.S. that will also make gas-powered cars, according to several media reports.

“We are excited to announce a new EV plant plan in the United States soon, but we do not have details to share at this stage,” Hyundai told Reuters in a statement on Monday.

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In Georgia Governor’s Race, Perdue Hits Kemp for $1.5 Billion to Soros-Linked Company

A scandal is brewing in Georgia’s Republican gubernatorial primary, with candidate and former Sen. David Perdue accusing incumbent Gov. Brian Kemp of engaging in shady backroom deals and lining the pockets of liberal megadonor George Soros as part of a massive new economic development project in the Peach State.

“This may be the worst deal I’ve seen in my business career, honestly,” Perdue told the “Just the News, Not Noise” television program on Friday. “This was just done the wrong way. And I’ve called the governor out on that, and we’ve had no response.”

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Ford Reports Devastating Losses Thanks to Electric Vehicle Gamble

Major U.S. automaker Ford blamed its sizable investment in electric vehicle (EV) company Rivian for its dramatic revenue decline in the first quarter of 2022.

Ford reported revenue of $34.5 billion between January and March, a 5% decline relative to the same period in 2021, and a net loss of $3.1 billion, according to the company’s earnings report released Wednesday. The Detroit automaker said its large investment in Rivian accounted for $5.4 billion in losses during the first quarter.

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