New EV models mean tax credit loss for Americans
Good morning! Today we celebrate National Peanut Butter and Jelly Day! This classic American sandwich has been a staple in many households for generations, and it's no surprise that it has a day dedicated to it. However, behind this simple sandwich lies a complex supply chain that involves the sourcing, processing, and distribution of various ingredients, such as peanuts, fruits, bread, and more.
So grab a PB&J sandwich, sit back, and join us as we explore the latest in the supply chain industry. 🥪
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According to a new report, fewer electric vehicles qualify for the full federal tax credit this year - which is worth $7,500. The Inflation Reduction Act may be slowing down people's interest in buying an EV and could even delay the White House's plan to have half of all US car sales be electric by 2030. The average price of an electric car is around $58,000… which is far too expensive for the typical American. The tax credit was intended to help lower prices, but it seems that now that not everyone is promised the $7,500 credit, it's less enticing to buyers. Gas-powered cars are commonly far less expensive.
Check out today’s featured article from AP News to read more about the tax credit for electric vehicles. Is going to completely disappear… or will only a select few will receive it? Will President Biden's plan for EVs become a reality?
Electric Vehicles & Sales 🔋
The top 10 long range EVs for your next roadtrip are here
Many electric cars have a limited driving range before needing to be recharged, which can lead to anxiety for drivers who fear they may run out of energy before reaching their destination. This fear is often referred to as "range anxiety". Electric car owners may also fear running out of energy if they are unable to find a charging station in a timely manner. In some areas, the charging infrastructure is still limited, which can make it difficult for drivers to find a charging station when they need one. The fear of running out of energy is a common concern among electric car owners and potential buyers. However, as electric car technology continues to improve and the charging infrastructure expands, these concerns may become less of an issue.
The fear of running out of energy is not on the top of the mind for people who own these top long-range cars. Coming in at #10 is the Tesla Model 3, which can go up to 374 miles without a charge, all the way up to #1, the Lucid Air Grand Touring, which can go 516 miles. While these two are rivals, there is a large price difference between them: the Tesla runs about $50,000, which is expensive but on the cheaper side of electric vehicles. The Lucid Air Grand is on the opposite side of expensive, with the cheapest version starting at $72,000.
Consumer Relations & Sales 🔋
Fashion brands are hurting the climate
Many major fashion brands are under scrutiny for receiving a C-level grade or lower on decarbonization progress. Out of the 43 fashion companies graded, 6 of them received an F and more than half received a D. Some of the companies that received such a low score include fast fashion giant Shein and even luxury company Prada, which were both included in the F-level score. Most people are saying it is very disappointing to see no change in these multimillion dollar companies. According to data, apparel and footwear alone make up 8.1% of the climate's impact. The Intergovernmental Panel on Climate Change has said that humans have caused a 1.1 Celsius degree rise in temperature in the last century.
Many other large companies were scored by the index used for carbon emissions, and it was surprising to see how many scored such a low letter grade. The emissions are scored by the “Scope 3,” which measures the carbon footprint in a letter grade. Only 2 companies scored above a C, and neither got above a B-level score. The companies included Eileen Fisher and Kering. Other retail giants like Amazon, Walmart, and Target all scored an F because they do not use low-carbon materials.
The Workday Dash is an aggregation of articles regarding the transportation logistics, trucking, and supply chain industries for November 28, 2024, from iLevel Logistics Inc.