Print 110 comment(s) - last by xti.. on Oct 10 at 2:42 PM

Chevrolet Volt
Bush signs bill which grants the Volt a $7,500 tax credit

In mid-September, DailyTech brought you news that congress was working on a new round of tax credits targeted at plug-in electric/hybrid vehicles. The tax credits were projected to weigh in at $3,000 for plug-in vehicles with at least a 6 kWh battery and top out at $7,500.

Toyota, which sells its Prius featuring a 1.3 kWh battery pack, balked at the tax credits as its hybrids wouldn't even qualify for the entry-level tax credit. Toyota also was unhappy that the only vehicle in the near future likely to qualify for the maximum $7,500 tax credit is the Chevrolet Volt.

Despite its opposition, Toyota's fears became law last week when President Bush signed the legislation which passed in the House by a vote of 263 to 171 as a part of the massive $700 billion Wall Street bailout package. The entire 10-year tax package for plug-in electric/hybrid vehicles is worth $1 billion.

Requirements to qualify for the tax credit have changed slightly since its inception in the Senate. The 6 kWh battery minimum dropped down to 4 kWh, while the base tax credit rose from $3,000 to $4,168. The maximum credit remains at $7,500 for the Chevrolet Volt with its 16 kWh lithium-ion battery pack.

The Chevrolet Volt gets its primary power from a 150 HP, 273 lb-ft electric motor. A 1.4 liter gasoline engine is also used to recharge the lithium-ion battery pack once the Volt's 40-mile battery range is depleted. According to GM, the Volt can save customers $1,500 per year in fuel costs based on a daily commute of 40 miles.

The $7,500 tax credit should go a long way towards making the Chevrolet Volt more affordable. Current estimates place the base price of the vehicle at $40,000 or higher.

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RE: I'd rather...
By FITCamaro on 10/6/2008 7:22:59 AM , Rating: 2
And personally, I wouldn't bank on this unproven technology lasting 9 years.

What is unproven about it? Locomotives have been using similar technology for years. It's a very simple system too. Far simpler than a system like the Prius has which has to constantly manage the electric and gas engines. This thing just uses the battery to drive the car. And when the battery gets to low, the gas engine/generator kicks on to recharge the battery.

RE: I'd rather...
By on 10/6/2008 9:58:19 AM , Rating: 1
Why all of the GM hate, man? Are you related to Al Gore? You must be a liberal wuss at the very least.

RE: I'd rather...
By on 10/6/2008 10:05:03 AM , Rating: 2
Doh, I hate it when I reply to myself. Doh, I did it again!

RE: I'd rather...
By omnicronx on 10/6/2008 10:10:36 AM , Rating: 1
What are you five? You know you are a big fag when you are online at 10 in the morning impersonating people on a blog site. I bet this is the highlight of your day..

RE: I'd rather...
By FITCamaro on 10/6/2008 10:08:45 AM , Rating: 1
Hello again little troll.

"Nowadays, security guys break the Mac every single day. Every single day, they come out with a total exploit, your machine can be taken over totally. I dare anybody to do that once a month on the Windows machine." -- Bill Gates
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