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ev tax credit

Ford CEO Wants to Match Price of Chinese EVs — and Plunging Battery Prices Will Help

Ford CEO Wants to Match Price of Chinese EVs — and Plunging Battery Prices Will Help

While EV sales should end the year up about 10% from 2023, the growth rate has slowed sharply. Several factors contributed to the slowdown, starting with the price premium — averaging about $10,000 more than comparable gas models. But Ford CEO Jim Farley claims the company is working up new EVs that will deliver “game-changing” prices, in line with rock-bottom Chinese brands. And a new study shows that plunging battery costs will play a major role.

Cadillac Lyriq Regains $7,500 Federal Tax Credit — Gets Leg Up on Rivals

Cadillac Lyriq Regains $7,500 Federal Tax Credit — Gets Leg Up on Rivals

After revising its supply chain, Cadillac once again can offer $7,500 in federal tax credits to buyers of the Lyriq EV. The automaker briefly lost those incentives after the U.S. Treasury updated guidelines under the Inflation Reduction Act on January 1. The news means Caddy gets a critical advantage over a number of competing luxury EVs that have also lost their tax credits this year.