GM expects entire EV lineup to qualify for full $7,500 tax credit as Bolt EV inventory runs low
General Motors shared Monday that it now leads the industry in the number of EV models that qualify for the full $7,500 tax credit. GM expects its entire lineup of electric vehicles under the MSRP cap to be eligible for the full EV tax credit in 2023.
After selling over 20,000 fully electric models in the first three months of the year, GM overtook Ford as the second-largest EV maker in the US.
GM’s CEO, Mary Barry, says the automaker is “different from the rest of the traditional OEMs” and this is going to be their year to show it. A big part of the leader’s confidence comes from GM’s scalable Ultium EV platform and battery venture.
The Ultium platform is the heart behind GM’s EV strategy. Designed to fit compact EVs, like the Chevy Equinox, all the way to fully electric commercial vans, like the Brightdrop, and everything in between, GMs Ultium platform can power models across various price points at scale.
In addition, with battery supply becoming a “production constraint” for many, including Ford, GM is in the midst of building at least three battery cell plants in the US in collaboration with LG Energy.
The first, in Warren, Ohio, began producing battery cells this past August, while its second in Spring Hill, Tenessee, next door to where the Cadillac Lyriq is built, is expected to begin production later this year. The Lansing, Michigan, location is under construction and expected to go online in late 2024.
When all three facilities are at full capacity, GM expects to have over 130 GWh battery cell capacity.
The investments are already paying off as GM is now expecting all of its electric vehicle models under the MSRP cap to qualify for the full $7,500 EV tax credit this year.
Which GM models qualify for the EV tax credit in 2023?
According to GM’s press release Monday, the automaker expects all of its fully electric models to qualify for the tax credit if they are under the MSRP cap.
These include the following:
- Cadillac Lyriq
- Chevy Bolt EV
- Chevy Bolt EUV
- Chevy Equinox EV SUV
- Chevy Blazer EV SUV
- Chevy Silverado EV
GM says fleet customers, including those for Brighdrop and the new Chevy Silverado EV, will be eligible for the $7,500 commercial tax incentive.
As you can see, other than the Bolt EV/EUV, which has been on the market for several years, Chevy has a big lineup of electric vehicles dropping this year.
The all-electric Chevy Blazer EV will be available later this spring, while the Chevy Equinox EV and Chevy Silverado EV pickup are expected to be available this fall.
Chevy Bolt EV inventory running low
According to sources speaking to GM Authority, dealer inventory of the Chevy Bolt EV was especially low going into this month.
The latest information shows Chevy Bolt EV inventory was running at a six-day supply at the beginning of April, with under 200 (174) models at dealerships at the time.
To illustrate, GM sold 19,700 Chevy Bolt EV/EUV models in the first three months of 2023. The Chevy Bolt EV, starting at $26,500, and the Bolt EUV, starting at $27,800, are some of the most affordable EVs available today.
The short inventory is due to soaring demand for affordable EVs, as evidenced by GM’s first-quarter delivery totals.
Meanwhile, GM said it would ramp Chevy Bolt EV/EUV production to 70,000 units this year to meet demand, representing a 59% jump from last year’s 44,000 models produced.
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British Columbia got its first 400 kW DC fast charger last week at Canadian C-store chain On The Run, but that’s not the good part. As part of a limited time offer, these chargers are FREE!
The Canadian convenience store chain just took the wraps off its new, ABB-developed, 400 kW chargers earlier this month, but they’re already planning to bring the ultra-fast 400 kW dispensers to at least four more locations in BC this spring, and have them online just in time for the summer road trip season – something On The Run hopes its customers will appreciate.
“The A400 charger delivers an enhanced customer experience, with reliability and performance from a 32-inch screen to higher power charging sessions and power sharing,” reads the company’s official announcement, via LinkedIn. “Download the Journie Rewards app to start the charge – free for a limited time.”
On The Run’s new 400 kW ABB DC fast chargers are compatible with CCS and CHAdeMO plugs, and can accommodate Tesla and other NACS-equipped vehicles with an adapter. That said, the company seems to imply that Tesla drivers in particular will have a maximum charging speed of “just” 50 kW, which feel hilarious (given the current state of affairs between Tesla and the Canadian government), but probably isn’t.
In addition to the ABB A400 400 kW units shown here, On The Run locations also employ the ABB Terra 184 dispensers rated at 180 kW. On The Run plans similar deployments at the four BC locations mentioned above, as well as two more each in Quebec and Ontario slated to go live towards the end of this year.
Electrek’s Take
Tesla’s controversial CEO Elon Musk once mocked 350 kW charging speed as being “for a child’s toy,” despite the fact that, nearly nine years later, his own cars and Superchargers can barely make it to 325 kW while others have sailed right on past. I made fun of that fact on the Quick Charge episode shown, above – and, while I do think it’s funny and relevant, the much more relevant piece of news here is that companies like BP Pulse, Revel, and Wallbox are actively deploying 400 kW solutions, today (while others hit the same mark as far back as 2017).
It’s just a fact: Tesla has fallen way behind.
SOURCE | IMAGES: On The Run, via Electric Autonomy.
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Terawatt Infrastructure‘s first medium- and heavy-duty electric charging truck stop in California is now online, in Rancho Dominguez.
Located 12 miles north of the ports of Long Beach and Los Angeles, the private Rancho Dominguez site, which is shared among multiple fleets, will support electric trucking fleet operations in and out of the largest container ports in the US.
First customers include Dreaded Trucking, Hight Logistics, PepsiCo, Quick Container Drayage, Southern Counties Express, Tradelink Transport, and WestCoast Trucking & Warehousing.
Terawatt’s electric charging truck stop features 20 pull-through and bobtail DC fast charging stalls with a capacity of 7 megawatts (MW), enabling charging for up to 125 trucks per day using a simple reservations system. Terawatt’s site features a proprietary charge management system, in-house technicians, 24/7 customer service, and onsite parts management.
“This launch underscores growing collaboration between enterprises, shippers, carriers, and charging infrastructure providers to advance sustainable technologies across logistics and transportation operations, especially in the medium and heavy-duty sectors,” said Neha Palmer, CEO and cofounder of Terawatt. Palmer added that the company will bring another charging site online in Rialto, California, in June.
Terawatt joined some of the world’s largest shippers and carriers in September 2024 to launch the I-10 Consortium heavy-duty EV operations pilot, the “first-ever US over-the-road electrified corridor.” Terawatt is providing charging infrastructure, including software, operations, and maintenance support at six of its owned charging hubs along the I-10 corridor.
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In its most aggressive attack against offshore wind yet, the Trump administration halted the $5 billion Empire Wind 1, already under construction off New York’s coast.
Norwegian developer Equinor announced yesterday that it received notice from the Bureau of Ocean Energy Management (BOEM) ordering Empire Wind 1 to halt all activities on the outer continental shelf until BOEM has completed its review. Interior Secretary Doug Burgum posted this tweet yesterday:
Burgum gave no indication of what insufficiencies there were in the approval process for the fully permitted offshore wind project, despite Trump’s recent declaration of a national energy emergency that speeds up permitting processes.
The commercial lease for the 810-megawatt (MW) Empire Wind 1’s federal offshore wind area was signed in March 2017 during the first Trump administration. It was approved by the Biden administration in November 2023 and began construction in 2024.
The project is being developed under contract with the New York State Energy Research and Development Authority (NYSERDA). Empire Wind 1, which was due to come online in 2027, has the potential to power 500,000 New York homes.
“Halting construction of fully permitted energy projects is the literal opposite of an energy abundance agenda,” said American Clean Power Association CEO Jason Grumet in a statement. “We encourage the administration to quickly address perceived inadequacies in the prior permit approvals so that this project can complete construction and bring much-needed power to the grid.”
As Electrek reported, Equinor secured $3 billion to finance Empire Wind 1 in January. The total amount drawn under the project finance term loan facility as of March 31 was around $1.5 billion.
As of March 31, Empire Wind has a gross book value of around $2.5 billion, including South Brooklyn Marine Terminal (pictured above), which was expected to become the US’s largest dedicated port facility for offshore wind.
In response to BOEM’s stop work order, New York Governor Kathy Hochul issued the following statement:
Every single day, I’m working to make energy more affordable, reliable and abundant in New York and the federal government should be supporting those efforts rather than undermining them. Empire Wind 1 is already employing hundreds of New Yorkers, including 1,000 good-paying union jobs as part of a growing sector that has already spurred significant economic development and private investment throughout the state and beyond.
As Governor, I will not allow this federal overreach to stand. I will fight this every step of the way to protect union jobs, affordable energy and New York’s economic future.
Equinor says it’s considering appealing BOEM’s order.
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