This week, we have news on Rivian's Snow Mode, Tesla Berlin, Audi & ICE, and New EV Tax Credit Rules: Our Top EV News for the week of Dec 23, 2022.
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Let it Snow … Mode
Rivian has released an update to help with handling winter driving conditions. The update includes a new "Snow mode" drive mode that is optimized for driving on snow, slush, and ice. The update reduces the accelerator pedal response to reduce the likelihood of wheelspin and reduces regenerative braking to help avoid slipping or locking the wheels when driving on slippery surfaces.
The update also includes features such as remotely warming the cabin, defrosting and de-icing windows and mirrors, and remotely activating seat and steering wheel heaters. Perfect for the weather this week ... I think it’s cold everywhere.
3k Teslas for Christmas
Tesla has confirmed that its Gigafactory in Berlin has reached a production rate of 3,000 EVs per week. The factory is currently only producing the Model Y, but once it reaches a production capacity of 5,000 vehicles per week, Tesla is expected to add new models to the factory's production schedule.
Tesla's goal was originally to produce 5,000 vehicles per week at each of its Gigafactories in Berlin and Texas by the end of the year, but that’s unlikely with us quickly approaching the end of the year (that’s next week, crazy). Tesla is also expected to start battery production at the Gigafactory Berlin in 2023.
ICE ICE Bye Bye
Audi plans to build EVs at all of its factories by 2029, with production beginning at plants in Germany, Hungary, and Mexico within the next six years. The automaker has also announced that it will only introduce EVs from 2026 and phase out models powered by combustion engines by 2033.
To support its shift to EVs, Audi will invest approximately €500 million in the coming years to train its employees for EV production around the world. The company is also building a new manufacturing site in China in partnership with FAW for EVs based on the Premium Platform Electric (PPE) architecture. The goal is to cut annual factory costs in half by 2033 through the reduction of complexity by producing more EVs and fewer ICE vehicles.
New Year, New Rules
The United States Treasury Department has announced that it will delay its guidance on battery sourcing requirements for EVs to qualify for federal tax credits. The new requirements, which include a $7,500 credit split into two parts, are set to take effect on January 1, 2023. However, the lack of guidance on battery requirements could create a window in 2023 where EV purchases that may not meet the pending requirements could still qualify for some level of tax credits.
The government has until the end of the year to develop guidance on the battery requirements, but the Treasury Department has stated that it needs until at least March to determine the EV battery requirements. Clear as mud.
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