News

Costly Electric Vehicles Confront a Harsh Coronavirus Reality

Christopher Rauwald and Bruce EinhornBloombergMay 26th, 2020 At a factory near Germany’s border with the Czech Republic, Volkswagen AG’s ambitious strategy to become the global leader in electric vehicles is coming up against the reality of manufacturing during a pandemic. The Zwickau assembly lines, which produce the soon-to-be released ID.3 electric hatchback, are the centerpiece of a plan by the world’s…

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Solyndra vs. Tesla: Lessons from the last recession

David IaconangeloE&E NewsMay 7th, 2020 The economic downturn is stirring a debate about how well President Obama’s stimulus package worked more than a decade ago — and whether the federal government should deliver a large infusion of cash for clean energy again. The American Recovery and Reinvestment Act (ARRA), signed in 2009, offered about $90 billion for clean energy, including…

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Mahoning Matters: Ohio electric vehicle legislation on back burner amid pandemic response

Kathiann KowalskiMahoning MattersApril 14th, 2020 COLUMBUS — A set of bills aimed at promoting electric vehicles in Ohio are on hold as lawmakers grapple with the coronavirus pandemic. Ohio’s legislature has not been friendly to clean energy in recent years. Those efforts led first to a freeze and then last year’s cut of the state’s renewable energy and energy efficiency standards.  Electric vehicle measures might…

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WSJ: More States Charge Fees for Electric Vehicles

Scott CalvertThe Wall Street JournalMarch 28, 2020 More states are imposing special registration fees on electric vehicles, sparking complaints that the levies undermine efforts to get consumers to embrace alternative-fuel cars. Twenty-eight states charge from $50 to more than $200 a year for plug-in electric cars, and 14 states have annual fees for plug-in hybrids that also use gasoline, according to…

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Sioux City Journal: Tax credit program for electric cars deserves scrutiny

Senator Chuck Grassley is seeking greater scrutiny of a tax credit program for electric cars after oversight revealed pervasive problems – including widespread fraud. Grassley’s watchdog role is important, as Democrats are pushing to expand the program. In a letter to IRS Commissioner Chuck Rettig, Grassley pressed for more information about how the IRS administers the $7,500 credit for purchasing all-electric and plug-in hybrid cars.

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Forbes: Tesla’s Earnings Show Why Transportation Funding Should Go To Roads, Not EV Subsidies

A few weeks back, I wrote Tesla didn’t need another government bailout in the form of an expansion of the electric vehicle (EV) tax credit. Since then, the company announced some very impressive earnings: Tesla generated $24.6 billion in revenue in 2019 and produced a $105 million profit in the fourth quarter. Suffice it to say, the market has found its EV winner. Any additional talk about propping up this industry with taxpayer dollars overlooks the reality of the situation.

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