Most EVs Won’t Qualify for Federal Tax Credit
DETROIT — A tax credit of up to $7,500 could be used to defray the cost of an electric vehicle under the Inflation Reduction Act now moving toward final approval in Congress. But the auto industry is warning that the vast majority of EV purchases won’t qualify for a tax credit that large.
August 9, 2022Portland City Council to Vote on Phasing Out Diesel Sales
Gradually phasing out diesel fuel sales in Portland, Ore., is among 43 climate change actions before the City Council’s second public hearing and vote slated for Aug. 24.
August 9, 2022Diesel Drops Below $5 for First Time Since March
The national average price of diesel dropped to less than $5 a gallon for the first time since March, falling 14.5 cents to settle at $4.993, according to Energy Information Administration data released Aug. 8.
August 8, 2022Lightning eMotors Sees Specialty CEVs as Next Frontier
Medium-duty electric commercial vehicles from box trucks to specialty applications are anticipated to play a large role as regulators and businesses turn to axing greenhouse gas and carbon emissions in the years ahead.
August 8, 2022ATA’s Chris Spear Optimistic About Trucking Economy, R.I. Tolling Verdict
American Trucking Associations President Chris Spear said the trucking industry continues to show resilience despite challenges in the U.S. economy, marked by two straight quarters of negative gross domestic product and interest rate hikes by the U.S. Federal Reserve that aim to slow decades-high rates of inflation.
August 4, 2022Senate Debates Freight-Centered Budget Bill
Legislation that aims to reduce emissions at commercial ports and freight corridors is topping Senate Democrats’ legislative priorities ahead of the upcoming congressional summer recess.
August 4, 2022Orange EV Secures $35 Million From Outside Investor
Yard truck maker Orange EV announced Aug. 4 that it has secured $35 million from S2G Ventures — its first large outside investor.
August 4, 2022TA Reports Strong Q2 Net Income, Revenue
TravelCenters of America Inc. reported second-quarter net income more than doubled and revenue soared amid favorable fuel purchasing conditions.
August 3, 2022OPEC+ Boosts Oil Output by Slower Pace Than Previous Months
The OPEC oil cartel and its allies decided Aug. 3 to boost production in September by a much slower pace than in previous months at a time of high gasoline prices and unstable energy supplies exacerbated by Russia’s war in Ukraine.
August 3, 2022Automakers Blitz Congress to Fix an EV Tax Credit They Can’t Use
Automakers including Ford Motor Co., General Motors Co. and Toyota Motor Corp. are making a last-ditch lobbying push to change Democrats’ proposed new spending bill over concern that they stand to lose out from strict new limits on electric vehicle credits.
August 3, 2022