This week on Headlight News we talk about Tesla’s tough week. During the company’s earnings call, CEO Elon Musk confirms the company’s well on its way to building a low-cost electric vehicle. Find out what happened and more at Headlight.News.
Government
UAW Endorses Biden for Second Term as President
President Joe Biden’s brief visit in September to a union picket line in Ypsilanti, Michigan during the United Auto Workers strike against Ford, General Motors and Stellantis is paying off with an UAW endorsement of Biden’s re-election. Find out more about the ties between the two at Headlight.News.
Ford Recalls Over 2 Million Explorers; Trim Parts Can Fly Off
Ford recalled more than 2 million Explorer SUVs. The automaker told federal regulators that trim parts may not have been attached properly and could fly off while driving, potentially leading to a crash. More from Headlight.News.
EV Skeptic Akio Toyoda Sees Electric Vehicle Market Share Peaking at 30%
He’s warned that the switch to battery-electric vehicles could seriously harm the auto industry. And even though his successor as Toyota CEO has committed more resources to EVs, Akio Toyoda continues to see a future in which hybrids and other alternatives dominate the global market. More from Headlight.News.
GM Will Cover Federal Tax Credits Lost by Some of its EVs This Year
Revised rules that went into effect on January 1 took away federal tax credits on all but about a dozen EVs. But General Motors will make up for that loss by offering up to $7,500 in discounts on EVs like the Cadillac Lyriq and Chevrolet Blazer EV, the automaker said. Ford, meanwhile, said it is raising the price on some versions of its F-150 Lightning by up to $10,000, while lowering the cost of premium models by as much as $7,000.
Nikola Helping Drive a Green Truck Revolution: Fuel Cell and Battery Electric
At first glance, it looks pretty much like any of the semi cabs rolling across American roadways, though the design is a little sleeker, and the name on its grille is the giveaway. Nikola’s Class 8 tractor is one of a growing number of “green” commercial vehicles, in this case, replacing a traditional diesel drivetrain with a hydrogen fuel-cell system. Trucks deliver most of America’s freight, but they also create a disproportionate share of the transportation sector’s pollution. That’s starting to change as truck makers and truck fleet operators switch to alternative hydrogen and battery drivetrain technologies.
EV Sales Could Slow as Tesla, Nissan, GM Lose U.S. Tax Credits on Some Models
The New Year brings bad news for potential EV buyers as only a handful of models now qualify for federal tax credits of up to $7,500. That’s because of new requirements covering the sourcing of batteries and raw materials like lithium and cobalt. Among the brands impacted are Tesla, Nissan, General Motors and Ford. And analysts worry this could further slow growth of EV sales.
EV Tax Credits Will be Easier to Use, Harder to Find in 2024
Federal tax credits can make buying an EV a lot more affordable. And the good news is that rule changes coming Jan. 1, 2024 make it easier for retail customers to get up to $7,500 on a qualifying vehicle, buyers no longer having to wait until the next time they file taxes. Commercial buyers also will find it easier to get EV incentives. The bad news is that a number of EVs no longer will be eligible for federal incentives this coming year. Headlight.News helps clear things up.
GM Sues San Francisco for $121 Million Due to Inflated Tax Bill
General Motors filed suit last Friday against the city of San Francisco, claiming the city issued the auto company a tax bill that was too high. GM alleges incorrectly included Cruise self-driving car subsidiary to calculate its tax bill. Get the story at Headlight.News.
Tesla Sales Set New Record – But Automaker Faces Major Challenges Entering 2024
Tesla is wrapping up 2023 with another record under its belt. But while sales hit an all-time high they still fell short of CEO Elon Musk’s ambitious forecast. And the Texas-based automaker has a growing list of problems on its plate, including mounting pressure for another recall following the one it announced two weeks ago.
EVs Help Blunt Impact of Jumps in Oil Prices
Oil prices declined for months, taking gas prices down with them. However, that’s turn in recent weeks, but the price of gas continues to fall. Discover the role electric vehicles are playing in the fossil fuel trends at Headlight.News.
U.S. Sets New Fuel Economy Record – But Detroit Makers Lag Imports
The U.S. auto industry set a new fuel economy record in 2022, according to the EPA – though Detroit’s Big Three automakers lagged both foreign-owned brands and domestic start-ups. It marked the biggest improvement in mileage in nine years. More from Headlight.News .