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Limbo two ways. Tesla says all its Model 3s are now eligible for full $7,500 tax credits. However, the IRS has not approved the claim, and no specific timeframe is public. If approved for reinstatement, the credit would take the total price of a Model 3 below $35K, which is about as low as any US EV option can go lately.
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Have shovel, will travel. VW is easing off its reliance on China for essential EV materials. The company is looking around South America, Canada, Indonesia, and Australia to secure materials, but ultimately hoping to create a self-sufficient European supply chain.
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Going up the country. Baby, don't you wanna come? Toyota will build its upcoming three-row electric SUV in Kentucky using batteries built at its North Carolina plant. Some $2.1B will be invested to bring the plan to life by 2025.
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Waiting for a bounce... XPeng has reported its ninth consecutive month of declined sales. Globally the company had a 26% drop in deliveries for May, majorly reflecting the heated competition between XPeng and Tesla in China, where XPeng makes the vast majority of its sales. The brand is hoping the upcoming release of its Ultra Smart Coupe SUV will reclaim some interest from Tesla Model Y.