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EV tax credit breakdown, F-150 Lightning price hike, used EV prices, Tesla FSD pushback: The Week in Reverse
Bengt Halvorson August 13, 2022 Comment Now!
Which super-efficient EV has gone Stealth?
Who called Tesla's Full Self-Driving irresponsible this week?
This is our look back at the Week In Reverse—right here at Green Car Reports—for the week ending August 12, 2022.
We paid a whole lot of attention to the $7,500 EV tax credit, as part of the Inflation Reduction Act, as it moved through Congress this week, from a surprise Senate passage this past Sunday to a decisive House vote on Friday. Earlier in the week we looked at how its cap on vehicle prices, at $55,000 for cars and $80,000 for pickup trucks and SUVs, could pressure automakers to produce more affordable EVs. Then we looked close at the language in the legislation, which has no provision extending the "old" EV tax credit to purchases for the rest of the year. Except for a fortunate few who make binding, money-down contracts to buy an EV before President Biden signs the bill, it's likely going away completely for the rest of the year.
And that's not the only thing that's controversial about the bill. The European Union now claims that in its prioritization of American-made content, it might break WTO rules and discriminate against European manufacturers.
Ford hiked 2023 F-150 Lightning prices by at least $7,000 versus 2022—a hefty 17.5% at the base level—while estimated EPA range with the standard 98-kwh battery pack is going up 10 miles, to 240 miles.
Lucid tapped into the trendy dark-trim look with its Stealth Look trim for the Air electric sedan. It claims to counter the Platinum Look with 35 different trim pieces and new wheel designs available for all except the base Air Pure.
Meyers Manx 2.0 Electric
The designer behind the Volkswagen New Beetle and original Audi TT is behind the new electric version of the Meyers Manx dune buggy. Simply called Meyers Manx 2.0 Electric, it retains most of the simple charm of the original design but with its performance claims of 0-60 mph in 4.5 seconds and up to 300 miles of range, there's clearly more sophistication underneath.
An analysis of listing prices found that hybrid and EV models are leading a used-car market price surge of the used-car market. Year over year, used EVs were 56.7% higher in July, with used hybrids 30.5% higher. Over the whole market, used-car prices were up about 11%.
A sweeping TransUnion study looking at millions of transactions found that, on average, EV buyers have much more favorable credit ratings than ICE car buyers. What's more, they're less likely to take on as much debt, even if they make a larger down payment.
Electrify America will be equipping the retail giant IKEA with two kinds of chargers: DC fast-chargers for the public, at up to 350 kw, and other chargers for its EV delivery drivers.
Arrival Car prototype
The UK startup Arrival is encountering some financial challenges, and that's led to a business reorganization that reportedly scraps plans to produce an affordable EV for Uber use. Although the company stopped short of confirming this in a financial update, the earlier report put its electric bus project also in question, although the electric van still has wings.
The company Autonomy put its money down this past week as proof that its EV subscription service will extend well beyond Tesla vehicles and potentially California. It revealed details for its $1.2 billion fleet order, spanning 45 EV models from 17 automakers—yes, even Canoo, which was originally to be offered by subscription. All in the order are expected to be delivered in the next 18 months and adding up to 1.2% of projected U.S. EV production through that time.
Canoo Lifestyle Vehicle
And Tesla faced increased pushback from multiple directions this week over its Autopilot and Full Self-Driving systems. One of them, consumer safety advocate and former Presidential candidate Ralph Nader this week called on federal regulators to order the removal of Tesla Full Self-Driving from all its vehicles. He called it "one of the most dangerous and irresponsible actions by a car company in decades."
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News The Week In Reverse
Buy now to claim the $7,500 federal EV tax credit before it expires for 2022
Affordable, all-electric: The 5 lowest-priced new EVs in the US
EV tax credit's twisted timeline, IKEA charging, Nader and Tesla FSD: Today's Car News
2023 Ford F-150 Lightning boosts range to 240 miles, price by $7,000