EV tax credit consequence: Plug-in vehicle lease prices are soaring

2023 Toyota bZ4X Limited AWDSome shoppers for electric vehicles and plug-in hybrids are encountering severe sticker shock this weekend in monthly lease numbers. That’s because versus just a few days ago, a vast swath of EV and PHEV models are no longer eligible for the federal EV tax credit—now known as the Clean Vehicle Credit. On Thursday, Toyota pulled its...

BMW is testing a four-motor layout for performance EVs

BMW M electric drivetrain test muleBMW is testing a four-motor powertrain for future M performance EVs, the automaker announced Wednesday in a press release. The automaker has already introduced diet M Performance i4 M50 and iX M60 models, but not a dedicated electric M model that pulls out all the stops. The prototype powertrain—revealed an i4 development mule—hints at...