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Mustang Mach-E prices, Kia EV9, expensive EV leases, CARB and EV tax credit shape the future: The Week in Reverse

What controversial option on Tesla vehicles was given a price increase this week?

Which EV maker announced this week that its tech will be used in watercraft?

This is our look back at the Week In Reverse—right here at Green Car Reports—for the week ending August 26, 2022.

Some of the biggest news of the week remained solidly in the EV policy corner, as federal and California policy set this week and last will shape the vehicle market potentially for decades.

California on Thursday made its planned 2035 end date for gasoline vehicles official policy—and it’s likely that the electric vehicle targets that are included in its Advanced Clean Cars II rules will extend well beyond the state, to a dozen or more others that have adopted its vehicle emissions standards. Just a couple of days earlier, Toyota announced that it’s no longer challenging California and its Air Resources Board, over the state’s authority to set its own stronger vehicle emissions standards.

And we’re expecting the Inflation Reduction Act and its revamped federal EV tax credit to bring a number of manufacturing changes at automakers, as they realign assembly and sourcing plans for more American-built EVs. Hyundai, which was among the automakers disqualified, is reportedly considering moving up the timeline for U.S. EV production.

2023 Fisker Ocean

Fisker said that it’s exploring ways to expand production of the upcoming Ocean electric SUV beyond its original maximum of 50,000 units per year. That might mean making the Ocean in the U.S.—a move that would make the model, which starts at $37,499, again eligible for the EV tax credit.

Both Mercedes-Benz and Volkswagen looked to Canada for raw materials critical for EV battery production. The move likely has a lot to do with the recent supply-chain-related eligibility requirements for the EV tax credit in future years.

2023 Ford Mustang Mach-E

2023 Ford Mustang Mach-E

The 2023 Ford Mustang Mach-E electric SUV is getting a price hike of up to $8,300 versus 2022, with Ford pointing to materials costs and supply-chain issues. Most buyers of the Mach-E will be able to claim the $7,500 tax credit at least for the remainder of the year while many other models are disqualified.

The upcoming Kia EV9 electric SUV will offer 4WD off-road prowess and three rows of seating in its U.S. production form, the brand confirmed this week. With the outdoorsy emphasis, the EV9, due to arrive in the second half of 2023, could be shaping up to be a somewhat more affordable alternative to the Rivian R1S.

2023 Kia EV6 GT

2023 Kia EV6 GT

Kia also confirmed U.S.-market details for the quickest and most powerful version of the EV6. The 2023 Kia EV6 GT will have 576 hp and boasts acceleration and top-speed numbers that narrowly beat the Tesla Model Y Performance. Although there’s no confirmation of range or sticker price yet.

Tesla has boosted the price of its Full Self-Driving option to $15,000 as of September 5—a move that coincides with the expansion of its controversial city-street beta-testing.

China’s BYD is entering the European market on multiple fronts. Earlier this month it detailed how it plans to sell its passenger vehicles in Germany, Sweden, and beyond; and it’s also recently reportedly delivered its Blade batteries to Tesla’s Giga Berlin for installation as soon as late August.

Teaser for Audi Activesphere concept

Teaser for Audi Activesphere concept

Audi at recent Monterey car week activities presented a first glimpse of its Activesphere rugged electric crossover concept that will be fully revealed in early 2023. Its focus is on “maximum variability for an active lifestyle—both on and off pavement.”

According to recent Department of Energy estimates, every U.S.-market EV costs less than $1,000 to “fuel”—meaning charge with electricity—compared to $2,000 to $7,000 for most gasoline models. Hybrid and plug-in hybrids occupy a middle ground.

L to R: Polestar 2, Polestar 3, Polestar 4 and Polestar 5

L to R: Polestar 2, Polestar 3, Polestar 4 and Polestar 5

Battery and charging tech from the EV maker Polestar will be put to use in Candela’s electric hydrofoil watercraft that use 80% less energy at high speeds than traditional motorboats.

BMW, Ford, and General Motors are helping a California utility cue EV drivers to charge during beneficial times that will put less strain on the grid and take advantage of lower electricity rates.

2022 Ford F-150 Lightning

2022 Ford F-150 Lightning

And last weekend we reported that lease prices on EV and plug-in hybrid models have soared in recent days. That trend circles back to the tax credit, too—mostly because many models that up until recently qualified for the EV tax credit no longer do, and captive finance companies are passing that mostly along to the consumer.

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