July 21, 2024

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DOE loan for GM Ultium EVs, IRS on EV tax credit, Niro EV recall: Today’s Car News

2 min read

The IRS starts detailing what it needs for the revamped EV tax credit. Some Kia Niro EV models have been recalled. We look at what didn’t make the finals for Best Car To Buy. And the DOE backs the batteries for GM’s EV plan. This and more, here at Green Car Reports.

The U.S. Department of Energy on Monday confirmed a $2.5 billion federal loan backing GM’s Ultium EV plan. More precisely, it backs the construction of three Ultium Cells LLC battery plants, in Ohio, Tennessee, and Michigan, that will be producing large-format pouch cells for upcoming GM electric vehicles, from crossovers to pickups and delivery vans—on the way to 1 million EVs annually by mid-decade. 

Some Kia Niro EV models have been recalled for an issue that could allow coolant into the power control unit. Although less than 900 U.S. vehicles are affected, it’s one that should get priority attention as it could lead to sudden stalling.

The IRS on Monday revealed some initial guidance on what it will need for EV tax credit compliance, as revamped by the Inflation Recovery Act (IRA). In short: get ready for more paperwork. Automakers will need to submit monthly reports with EV details, and even sellers will be responsible for turning in paperwork with details such as battery capacity.

And this morning we ran through what didn’t make the cut—some of the year’s new plug-in vehicles that didn’t make yesterday’s shortlist of Green Car Reports Best Car To Buy 2023 finalists. Should the GMC Hummer EV have been included? The Rivian R1S?

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