1 big reason it's officially the 'summer of the EV' — plus 5 more auto stories you need to know this week

This week, we're breaking down both the good and bad EV fallout from Congress passing the "Big Beautiful Bill," as well as which models are affected.

Plus, we have some EV myth-busting, the Rolls-Royce of electrics, and lots of other news you need to know about clean machines this week.

This is now the 'summer of the EV'

Following the passage of President Trump's "Big Beautiful Bill," the federal EV tax credit has officially been axed. You have until September 30 to make a purchase and qualify for the $7,500 credit on a new EV (or $4,000 on a used one).

"If you're interested in driving an EV — either new, used or leased — now is the time to act," Ingrid Malmgren, senior policy director at Plug In America, told CNBC. "This is going to be the summer of the EV, because come the end of September those credits will be gone."

The EV silver lining tucked away in the new bill

Yes, we're losing the federal EV tax credit, but it's not all gloom, as Wired reports. Buried in the bill's language, there's a small but hugely important detail: The legislation doesn't eliminate Biden-era tax credits for EV manufacturers, as many had feared it would.

So car companies, battery makers, and minerals miners will still be incentivized to innovate and optimize, which could lead to much lower prices for consumers. 

Which models are affected by the vanishing tax credits? 

Edmunds has listed the 29 currently qualified EV models that are going to lose out after September 30. Ten of them are Teslas, two are Kia models, two are Hyundais, three are Fords — and the list goes on. 

EV mythbusting: Batteries last longer than many people think

New research is highlighting — and demolishing — some of the myths that still plague the EV industry.

For one thing, batteries do not need replacing after a few years, unless your usage is unimaginably extreme: In the US, most come with an eight-year, 100,000-mile warranty. 

Did you really need another reason to visit Costco? 

Apparently, yes — and it's not for the cheap gas.

Would you be more likely to drive an EV if you could charge it in 5 minutes? Yes 👍 Depends on the cost 💰 No way 👎 I already have an EV 🔌 Click your choice to see results and speak your mind.

The big box retailer just announced a pilot program in Florida to provide EV chargers to shoppers, the latest proof of the growing trend away from "destination charging" and toward "charging destinations" (where EV drivers looking to charge are being lured to retailers where they hadn't planned to shop).

If you thought a $100,000 EV was expensive …

Then make way for the latest American EV startup, Dacora Motors, which aims to earn the American ultra-luxury title with its eponymous $500,000 electric sedan (that, by the way, is the starting price).

The 20-foot-long land yacht will be hand-built to each customer's specifications at a facility in New York's Hudson Valley.

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