NATIONAL
NEW FEDERAL EV RULES IN HOUSE BILL
Forbes provided a ‘greatest' hits’ from the ‘One Big Beautiful Bill Act’ of what will affect EV buyers most:
• Auto Finance Interest Will Be Deductible
New auto buyers will be able to claim up to $10,000 for interest paid on a new-car loan. This applies only to cars assembled in the U.S. Interest on leases and commercial vehicle purchases are not deductible.
• EV Tax Credit abolished
The sun will set on the $7,500 EV tax credit for new, and $4,000 credit for used vehicles, on December 31, 2025 for automakers who have sold more than 200,000 qualifying electric vehicles. Buyers purchasing vehicles from automakers who have sold fewer than 200,000 qualifying products will be eligible through December 31, 2026.
• EV Registration Tax
A new federal registration fee of $250 for EVs and $100 fee for hybrids will go into effect. The fee as written is intended to make up for the loss of revenue during the Biden administration for not implementing a fee in order to incentivize the purchase of electric vehicles. Source
AUTOMAKERS
AUTOMAKERS HIT BY BLOCK OF ROCKS
Rare earth minerals are a key ingredient to the automotive industry. Rare earths are needed for magnets and magnets can be found in a multitude of products from your visor mirror’s door to the magnet in the stator of your electric car’s motor. General Motors, BMW, to Bosch and ZF are affected by curbs in place by China on the export of rare earth minerals it produces.
China processes roughly 90% of the world’s rare earths. While some of it may be mined in other countries, only China has the factories to extract the rare earth minerals need by the auto industry.
China is using export controls and added administrative layers on rare earth as a cudgel against the tariffs imposed by the Trump administration.
CLEPA, the European Association of Automotive Suppliers said several production lines have shut down after running out of supplies.
Mercedes-Benz production chief Joerg Burzer said he was talking to suppliers to build up stockpiles to protect against threats to supplies.
Some in the industry foresee the potential for parts shortages similar to those experienced during the Covid pandemic. The problem is forcing the EU and other countries to seek ways to reduce the dependency on China for processing these minerals.
Both the U.S. and Chinese presidents are expected to hold talks this week in an effort to work out their differences with the curbs on rare earths to be near the top of the list of issues to address.
Source
A NEW LEAF TURNS AT NISSAN
Since 2010, the Nissan Leaf has been a stalwart in the march to electrification. With close to 700,000 LEAFs sold globally, Nissan estimates this works out to approximately 28 billion kilometers traveled on 100% electric energy.
So it is a big thing when Nissan announces plans a new LEAF is stepping into the shoes of its predecessor.
The new LEAF will sit on the same platform as the Aryia and include a glass panoramic sunroof with dimming feature which aides in aero efficiency.
Vice President, Global Product Strategy Richard Candler states three clear pillars they’ve tried to reach.
Being a “credible alternative to a combustion car”
Owners should be able to take a holiday journey of three hundred to five hundred kilometers before stops.” (186-310 miles.)
Easy and seamless charging anticipating 200 miles of charge in 14 minutes.
On that last pillar, specs for the new indicate the new LEAF will arrive with a NACS connector.
Nissan’s announcement notes U.S. and Canada to be the first countries to see the new LEAF on dealer lots before the end of the year.
The announcement also states a new “adventure-focused SUV” built in Nissan's Canton, Mississippi plant and will include U.S. built batteries. The yet to be named SUV will arrive in 2027.
Source
VOLVO SALES SEE SPRING FALL
Reuters reports Volvo Cars sold 59,82 cars in May, a 12% drop from a year earlier.
This coincides with news from other EV makers reporting lower sales on account of tariffs and uncertainty brought on by the current administrations trade policies.
While EV sales have slowed, EV sales continue to increase year over year
Source
INFRASTRUCTURE
WALMART FIVE + ONE SAMS = 10
Walmart has recently announced the construction of five new Walmart and one new Sam’s Club locations by the end of September.
A Walmart spokesperson told USA Today that the company will open 10 locations by the end of the year.
Why is this EV news? Because of Walmart’s earlier announcement that all Walmart and Sam’s Club stores will be outfitted with Walmart Energy branded DC Fast Chargers.
Look for the five new Walmart locations in:
Tuscalossa, AL
Mountain View, CA
Eagle Mountain, UT
Milton, FL
Pace, FL
The Sam’s Club will be located in Tempe, AZ.
Source
