The Buy American provisions of the Inflation Reduction Act and Bipartisan Infrastructure Law have proven controversial in some quarters, but they are integral and necessary components of both programs. EVs require raw materials, many of which are disproportionately extracted and processed in countries that we don’t want to rely on. Thus, any comprehensive program to… Read more »
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Tenet raises $30 million for its EV financing and charging platform
New York-headquartered vehicle financing company Tenet Energy has closed a funding round of more than $30 million. The financing includes more than $10 million in Series A investment, led by venture capital firm Nyca Partners, as well as a $20-million warehouse debt facility provided by Silicon Valley Bank. Other investors participating in the round include… Read more »
IRS opens registration for auto dealers to offer point-of-sale credits for EV buyers
The worst aspect of the old EV tax credit was that it could only be applied to a buyer’s income tax liability (not self-employment tax, state taxes, etc) and, unlike some other tax credits, could not be carried over to a future year. The practical effect of this was that the only people who could… Read more »
IRS Commercial Clean Vehicle Credit plus other incentives can make a commercial EV “nearly free”
The IRS Commercial Clean Vehicle Credit offers a tax credit of up to $40,000 for US businesses and tax-exempt organizations that buy a qualified commercial clean vehicle (an EV, PHEV or fuel cell vehicle). The IRS’s list of eligible manufacturers includes some 60 vehicle brands. But wait, there’s more. As Lightning eMotors, whose medium-duty commercial… Read more »
Autel Energy launches MaxiCharger AC Ultra EV charger for European markets
Charging hardware manufacturer has added a new Level 2 EV charger to its product range. The MaxiCharger AC Ultra is an IEC-certified, dual-socket commercial AC charger, and is now available worldwide as a European-standard 22 kW charger. “MaxiCharger AC Ultra can output 22 kilowatts of power simultaneously, meaning two vehicles can charge at the same… Read more »
Packaging second-life EV batteries into a plug-and-play energy storage system
Q&A with Smartville CEO and co-founder Antoni Tong What do EV batteries have in common with athletes and politicians? Once they age out (or get voted out) of their positions, they have the opportunity to have a lucrative (and in the case of batteries, useful) second career. Repurposing depleted EV batteries for stationary storage applications… Read more »
Motiv Power Systems’ new Argo electric truck features a purpose-built EV cab
Motiv Power Systems, a manufacturer of electric trucks and buses, has announced a new electric truck featuring a medium-duty EV cab designed from the ground up. The Argo Series is designed to support all medium-duty applications across Classes 4 to 6—including box trucks, step vans, shuttle buses, refrigerated vehicles, vocational vehicles and other specialties—and is… Read more »
Senator Schumer takes Revel’s millionth electric ride in NYC
New York-based Revel leverages the synergies between urban public charging and ridesharing. The company operates two public EV fast charging Superhubs, and plans to add at least 130 more plugs by the end of 2023. The company launched its electric rideshare service in 2021, and currently has a fleet of about 300 EVs, including Tesla… Read more »
Legrand’s new residential Level 2 EV charger is designed to be powerful and compact
Legrand, a manufacturer of a broad range of electrical wiring devices for commercial, industrial and residential applications, has announced the launch of its first residential EV charger. “We’re about delivering access to power, wherever and however people need it,” states Scott Bausch, VP and General Manager for Legrand’s wiring device business. “The need for simple,… Read more »
Lower-income Colorado residents can get a $6,000 rebate for upgrading to an EV
The higher purchase prices of EVs put them out of reach for lower-income car buyers. The state of Colorado is trying to address this issue with a new program that offers rebates to qualifying residents. The Vehicle Exchange Colorado (VXC) program, which is scheduled to launch in August, is designed to help income-qualified residents replace… Read more »