Like the tax credit before it for traditional hybrid vehicles such as the Toyota Prius, the new bill proposes a credit with a lifespan of just the first 60,000 vehicles produced per company, with decreasing credits as the production figures rise. It even has a similar sunset clause, despite production of any vehicles that might be eligible for the credit still at least two years out from the bill's effective date of December 31, 2008, reports Kicking Tires.
Toyota is reporetdly none too pleased with the situation, however, since the credit is greater than that given the Prius or similar hybrids. Still, with the ostensibly higher development costs of the more advanced plug-in hybrid system - a fact supported by the higher projected retail prices - the larger credit makes sense. And although the Prius does not qualify for the credit, it is not brand-specific, so if Toyota were to build a qualifying vehicle, it too could partake in the bounty. The upcoming plug-in Prius isn't expected to qualify since its elcetric-only range doesn't meet the bills requirements.
To meet the bill's standards, a plug-in EV must have a battery with a minimum capacity of 4kWh, though an additional $200 of tax credit is added for every kilowatt-hour thereafter, which is how the Volt gets to the maximum $5,000 limit with its 16kWh battery.
Reader Comments
Wed Sep 17 2008 6:45 PM
Gus says
I still think this will be an awesome little car.
Now that it's $5,000 cheaper, maybe it's worth it to more people.
I'll tell you this much, if I were replacing my Expedition, and I didn't have a boat and toys and such, and I had a place to plug it in, I would seriously consider it.
Thu Sep 18 2008 6:46 AM
Laz says
I thing that I'm still waiting on is if I will fit inside this little car! Being over six foot I do not fit in many compact cars...
Thu Sep 18 2008 4:49 PM
Chris says
Laz... have you sat in a prius? when i see this car i really do think they went after the prius segment more than initially thought. it looks like a standard boat of a midsized car (remember i love compacts :p), but it looks like that sort of C/D class that the prius is.. something between.
i'm 6'2" and 250 lbs (of solid muscle of course) and i have no problem with my focus (when the seats are adjusted properly ofcourse)
there's a guy on the Mazda3 forums that i track and he's 325 lbs at 6'4"... loves his hatch. but anyways...
yeah $5000 is going to make this an easier pill to swallow.. but id like to comment on just how stunning this car looks. i really do think that GM could ask 30-40 grand for this car if they were to slap a saab sticker on it and put a normal drive train in it. people will buy it not JUST because its a friggen cheap car to opperate (80 cents for a 40 mile charge anyone???), but cause it IS elegant looking.. it looks like its made well... the interior is NICE...
SID: NEW SITE LOOKS @$#%&%$#&*(#^_)*#@$ING AMAZING... keep up the good work!
Tue Oct 28 2008 6:28 PM
bobobob says
I ride my bike to work.. I have a pretty $$ taste in titanium/carbon fiber frames that run 6k-7k. I don't polute the environment like these stupid battery powered cars.. all the energy to create that material.. then when its old and dead, where do you dispose of those batteries? So anyway, where is my $5000 incentive? I run on beer, a renewable resource.
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