Well, most of them anyway. Congress is on the verge of lifting the 200 000 vehicle sales cap for the federal ev tax credit in the us. That means tesla gm and toyota. Customers will once again be eligible for the full 7 500 credit democrats struck a deal in the senate. That would not only bring back the ev tax credit, but it also includes tens of billions of dollars for loans to build new, clean vehicle manufacturing facilities and to retool existing plants. But not everyone gets the eevee tax credit, trucks, vans and suvs that cost more than eighty thousand dollars and passenger cars that cost more than fifty five thousand would not qualify. The bill is expected to be voted on by the senate next week and, if approved, it will then move on to the house of representatives and too bad for rivien its electric truck and suvs cost too much to qualify for the credits, at least most of them. In fact, things are getting worse for rivien its going to cut six percent of its workforce. Ceo rj skyrings told employees, he blames the economy and says he cant raise enough money to expand. Production rivian has around 14 000 employees, so the cut would probably come out to about 840 people, but it wont include any of them in manufacturing, as of may riven had around 17 billion dollars in cash on hand. So its a bit alarming to hear rivien needs to let go of workers to help save money going back to the senate.

For a moment, it just passed a 76 billion dollar bill to subsidize chip production in the u.s. The u.s auto industry threw its support behind the bill. ‘ billion dollars of that will go directly to companies that will or are planning to expand chip production. Two billion dollars of that was earmarked for legacy chips used by automakers. Another 11 billion dollars will be provided to companies for research and development and includes a 25 percent tax credit for companies that invest in new manufacturing plants or equipment to get the money. Companies must agree not to open new factories in china or quote other countries of concern for 10 years, and it prevents companies from using the money for stock, buybacks or paying shareholders. The bill must now be approved by the house of representatives before president biden can sign it into law. Yes, apple is still working on an autonomous electric car and it just poached a lamborghini executive to develop it luigi tara borelli. He worked at lambeau for 20 years and was most recently the head of its chassis in vehicle dynamics. He helped develop the iris, huracan and aventador and he joins a list of former auto executives that apple has hired, including ones from ford, bmw and tesla apple. Also hired dozens of former auto engineers and designers to work on the car, which supposedly will come out in 2025 at scheffler, we pioneer motion Music, electrifying mobility, manufacturing, smarter, reducing co2 emissions, making energy production clean, scheffler, pioneers motion to advance how the world moves Music.

We want to know what drives your testing ota connected car diagnostics. Remote testing, intrepid control systems is here to help you work from anywhere intrepid control systems driven by your data. Carlos tavares showed the automotive world once again, why hes considered one of the top ceos in the industry stalantis just posted its first half earnings and the numbers are really impressive: stalantes sold just over 3 million vehicles down more than 7 percent, but its revenue jumped 17 To 88 billion euros and 8 billion of that dropped to the bottom line, which was 34 percent higher than a year ago. North america is the real money machine for stalantis and what was the old chrysler accounted for: 60 percent of the companys profits, even more amazing. The old chrysler group hit an operating profit margin of 18.1 percent thats, even better than tesla, which hit an operating margin of 14.6 last quarter and ford posted its second quarter numbers and theyre, pretty impressive, except for one and thats. The most important number ford sold just over a million vehicles in the last three months, which was up an amazing 35 percent compared to a year ago. Obviously, the company got its hands on more chips to boost production, that much revenue shot up 50 to just over 40 billion dollars, but ford only posted a profit of 638 million dollars. That was up 15 percent from a year ago, but its nowhere near the kind of profit.

The company should be posting and thats, because ford had to book a loss of 2.4 billion dollars on its investment in rivian stock. If not, for that, ford would have posted a comfortable net profit for the quarter. Automakers are getting more and more interested in passenger drones, and now its vw volkswagens group in china unveiled an evital prototype that it plans to test later this year, nicknamed the flying tiger. The aircraft features eight routers for vertical lift and two propellers to move it forward. Its currently based on existing autonomous and battery technology, but in the future could carry up to four passengers in their luggage up to 200 kilometers or 124 miles. The next step is to build an improved prototype that will undergo more advanced tests in the summer of next year. Vtol by the way stands for vertical takeoff or landing. Did you know that tesla has the highest owner loyalty in the business? In fact, in march 76 percent of the people who bought a new model 3 in the american market already owned one thats, the highest loyalty rate thats ever been documented, auto analyst tom libby from ihs market is the one who dug that up and hes our guest On auto line after hours this afternoon, hes got a lot of great insight into whos. Doing well and whos. Owner loyalty is in the dumps, and we invite you to listen in on what hes got to say. Joe white from reuters will also be on the show.

So join john and gary for some of the best insights into the automotive industry when we go live at 3 pm eastern time on our youtube channel Music, the future of michigan is extraordinarily bright. We have such incredible assets and i think more and more were realizing. How to put those together in a way thats going to help this state really help lead the nation as we go forward. Chevrolet is bringing out a completely new colorado later this year and it is truly all new, no more v6 and no more diesel engine. Instead, it gets a 2.7 liter, four cylinder turbo that comes with three different power ratings. The base version gets 237 horsepower. The next step up takes that to 310 horsepower and the next step up from that has the same horsepower but adds another 40 pound feet of torque, bringing the total to 430 pound feet. Max towing is 7 700 pounds and all three versions get an eight speed automatic. There are other significant changes. The wheelbase is over three inches longer and the front axle was moved further forward that improves the stance and minimizes the front overhang and theyve added a new trim line called trail boss. That gives you the look of the hardcore zr2 off roader, but not all the suspension bits so its more affordable. The zr2 gets what they call a desert package, which includes 10 different camera views around the truck, including an underbody camera, for when you dont have a spotter while rock crawling the z71 also gets those cameras inside the interior was redone and features an 11.

3 inch screen. Sales of the existing colorado are up strong this year and its actually outselling the ford ranger. So the new colorado is probably going to do even better. Car thieves have really turned their attention to hyundais and kias. Ever since someone posted a social media, video that showed that models without an engine immobilizer, which is standard on new models, could be started with a simple usb cable. Now its turned into a tick tock challenge viewers are supposed to report the videos right away, but the thefts continue to rise its estimated that nearly half of all u.s homes would need an upgrade to their electrical panel to allow the installation of a typical level. 2 charger for an electric vehicle, but help is on the way siemens partnered with a company called connector to launch a new device that goes between the meter on the outside of your house and the meter socket a cable then snaps into the adapter. That goes directly to the charger, its said that it only takes about 15 minutes to install and reduces installation cost by 60 to 80 percent. We love simple solutions like this, and it should help with eevee adoption, but that brings us to the end of todays show. Thanks for tuning in and well be right back here again tomorrow, Music, auto line daily is brought to you by bridgestone solutions for your journey. Intrepid control systems over the air engineering boost your game, scheffler.