Hey folks, some news for you. The Electrified GV70 SUV model was being built by Hyundai workers in Alabama continuously for a whopping 16 hours! And let me tell you, everytime they took a break, they sure were electrified with the urge to get back to work!
Now, the bigwigs at Genesis had hoped that this model was qualified for some credit, but unfortunately for them, the car didn’t make the cut under the tough new rules which the Biden administration released this week. Oopsie!
But don’t you worry your pretty little heads about it, because the automakers at Hyundai are trying to make up for this loss by offering some fancy schmancy leasing options for you all. Because, hey, if you can’t get that tax break, at least you can feel good about getting a sweet ride to lease.
And you know how they’re doing this leasing thingamajig? Well, it turns out that the administration has broad interpretations of the law which makes it possible for leased electric cars to be eligible for tax credits- even if they’re made overseas and don’t quite make the cut under the government’s rules on sourcing requirements for battery components and minerals, household income caps, and vehicle price quotas. So hey, why not just lease a car from afar and get in on those sweet, sweet tax breaks? Sounds like a plan to me!
Serious News: nytimes