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☆ BMW says diversifying risks does not mean it is leaving China
▼ + stars: | 2023-10-26 | by ( Sheila Chiang | ) www.cnbc.com time to read: +1 min

WUHAN, CHINA - MAY 25: (CHINA OUT) Attendees wear protective masks as they look around the at BMW Ix3 during 2023 Central China International Auto Show on May 25, 2023 in Wuhan, Hubei province, China. More than 80 brands took part in the 2023 Central China International Auto Show which started on Thursday. (Photo by Getty Images)German automaker BMW Group said that diversifying its supply chains away from China does not mean it is leaving the country completely. "Especially the BMW Vision Neue Klasse, it will not be a small volume. BMW is not leaving China, he said, adding that free trade is "fundamental to our business model."

Persons: Oliver Zipse, CNBC's Martin Soong, Annalena Baerbock Organizations: BMW Ix3, China International, Getty Images, BMW Group, BMW, Neue, Japan, Neue Klasse, Tesla Locations: WUHAN, CHINA, Wuhan, Hubei province, China, Germany

☆ Some electric vehicles from BMW, Nissan, Hyundai and Volkswagen will no longer get federal tax credits
▼ + stars: | 2023-04-18 | by ( Emma Newburger | ) www.cnbc.com time to read: +4 min

Brown | AFP | Getty ImagesFewer electric vehicles now qualify for federal tax credits after the Biden administration this week unveiled stricter rules for battery sources that will prioritize domestically manufactured models. The new list published by the Treasury Department includes 16 U.S. manufactured models from Ford , General Motors , Tesla and Stellantis . Ten of the models on the new list will qualify for the full $7,500 tax credit, with the rest qualifying for half that amount. Vehicles losing credits include those from BMW, Hyundai, Nissan, Rivian , Volkswagen and Volvo Cars. The bill set various manufacturing requirements for new all-electric and plug-in hybrid vehicles to qualify for the $7,500 tax credit.

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