Malaysia Semiconductor Industry Eyes Helium Supply Risks Amid Middle East Conflict 
SK Hynix Eyes Up to $14 Billion U.S. IPO to Fund AI Chip Expansion 
Meta Ties Executive Pay to Aggressive Stock Price Targets in Major Retention Push 
Alibaba Bets on AI Agents to Unify Its Vast Digital Ecosystem 
OpenAI Pulls the Plug on Sora, Ending $1 Billion Disney Partnership 
Trump White House Unveils National AI Policy Framework for Congress 
Micron Technology Beats Q2 Earnings Estimates, Issues Strong AI-Driven Outlook 
Reflection AI Eyes $25 Billion Valuation in Massive $2.5 Billion Funding Round 
Judge Dismisses Sam Altman Sexual Abuse Lawsuit, But Sister Can Refile 
Elliott Investment Management Takes Multibillion-Dollar Stake in Synopsys 
Google's TurboQuant Algorithm Sends Memory Chip Stocks Tumbling 
AMD CEO Lisa Su Heads to Samsung's South Korea Chip Facility Amid AI Expansion Talks 
Palantir's Maven AI Earns Pentagon "Program of Record" Status, Reshaping Military AI Strategy 
Jeff Bezos Eyes $100 Billion Fund to Transform Manufacturing With AI 
Nanya Technology Shares Surge 10% After $2.5 Billion Private Placement from Sandisk and Cisco 
Volkswagen recently stated that VW Model Years (MY) 2023 and 2024 ID.4 vehicles equipped with SK On battery components are eligible for the full $7,500 federal tax credit for electric vehicles under the Inflation Reduction Act (IRA).
Volkswagen ID.4 With SK ON Battery Components Qualified For Maximum $7,500 Tax Credit in 2024
The 2023 ID.4 starts at $38,995 for the Standard model, which has a 62 kWh battery and an EPA-estimated range of 209 miles. Volkswagen offers the 2023 ID.4 with two battery and powertrain options. The ID.4 Pro features an 82 kWh battery with an EPA-estimated range of 275 miles, as per Teslarati.
Only VW ID.4 models with SK On batteries are eligible for federal tax credits. Volkswagen ID.4 EVs with LG batteries are not eligible.
Customers interested in purchasing a MY 2023 or MY 2024 ID.4 EV may use the tax credit as a down payment. The VW ID.4 qualifies for an EV tax credit at the point of sale by distributing the tax incentive to participating dealers.
Volkswagen warns that qualifying for MY 2024 ID.4 units is susceptible to change because it is based on batteries that have not yet been built. The present qualification for MY 2024 ID.4 units is based on existing battery supplies.
VW anticipates that the MY24 ID.4 EV will qualify for the entire year of 2024. It will notify clients of changes to the My 2024 ID. 4's qualifications.
Volkswagen ID. 4's Competitive Pricing Bolsters U.S. EV Market, Backed by IRA Tax Credit and Local Production
In its announcements, the German carmaker stated that the VW ID. 4's pricing range is comparable with traditional compact SUVs because it is eligible for the IRA tax benefit. It also noted that Volkswagen is the only foreign automaker to qualify for the full EV tax credit without exploiting any loopholes.
"This is great news for consumers in the U.S. because it expands the choice of truly affordable EVs. The ID.4 is already one of the lowest-priced electric SUVs on the market, and the $7,500 Federal Tax Credit makes it even more attainable," Pablo Di Si, President and CEO of Volkswagen Group of America, stated.
"This shows that we made the right decision to localize [the] assembly of the ID.4 in Tennessee and invest even further in battery production, components, and innovation. Every ID.4 sold supports thousands of American jobs and helps advance our goal of a carbon-neutral future," he furthered.
Photo: Erik Mclean/Unsplash
