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AUTOMOTIVE
Senate Committee Pressures Tax Credit Rules
The US Senate Energy and Natural Resources Committee has introduced legislation to immediately impose battery sourcing requirements on EV tax credits.
If passed, the proposal will undo a December announcement by the US Treasury to announce battery guidelines in March.
The committee expressed concern that pushing the EV tax credit rules back would compromise the goal of reducing the US's reliance on foreign supply chains for critical materials.
Telling it like it is - A group of vultures is also called a committee. #checkmate politicians.
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AUTOMOTIVE
Acura Goes Direct
The Honda EV catch-up story deepens.
The Japanese automaker's luxury brand, Acura, will sell 100% of its EVs online, but says dealers will remain a part of the process.
Honda Senior VP Mamadou Diallo shared that whether a customer wants to start their buying process online or in a dealership, they will still "have to input that information.”
Telling it like it is - “Oh, you like this car? Go home and pay for it” -Us, trying to roleplay how customers will feel about this online-only option…
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TOGETHER WITH AUTOTEAM AMERICA
Exclusive Coverage? Say No More, Fam!
Well, we made it. We are at NADA! Your eyes, ears, and boots on the ground to bring you everything we can from the show.
For instance, exclusive coverage of AutoTeam America's sold-out, dealer only, 10th Annual Buy-Sell Summit featuring industry leaders like Alan Haig, Paul Walser, and Karl Schmidt.
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AUTOMOTIVE
Tesla Invests In Nevada
Tesla is upping its investment in its Nevada plant. The $3.6B addition to the $6.2B gigafactory will add a 4680 battery cell plant and a high-volume Tesla semi-factory.
High Voltage. High Volume. The battery portion of the addition will produce cells for around 1.5M light-duty vehicles per year. The company has not shared semi-truck production targets yet.
Telling it like it is - Musk seems to be as interested in building factories as he is in building EVs these days.
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CULTURE
Apple CEO Takes Pay Cut
Amidst a wave of layoffs from companies such as Google, Meta, Twitter, Ford, Carvana, etc., Apple has resisted getting swept up in the tide. Apple's CEO, Tim Cook, has opted to take a pay cut totaling $49 million for 2023. The cut is comprised of stock awards, incentives, and salary. They reached the decision at Cook's request in conjunction with a vote from Apple's compensation committee.
Telling it like it is - Witnessing a corporation of Apple's size putting employees' livelihoods at the top of their priority list is a breath of fresh air we can all feel good about.
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