03/12/24 - 2025 Porsche Taycan Turbo GT Debuts 🚗, US Treasury released EV charger tax credit guidance ⚡, Red Bull dominates 2024 F1 Grand Prix 🏎️

GM. Rev up your day with the latest automotive news and insights delivered to your inbox in our exclusive newsletter! What we cover in today’s edition:

• 🚗 Car reveal/review: 

  • 2025 Porsche Taycan Turbo GT Debuts With 1,092 HP

  • Mercedes-AMG E53 Revealed With 603-HP Straight-Six Hybrid Engine

  • New Audi A3 allstreet channels inner Allroad

• 🏭 Industry trend: Uber’s posh electric rideshare service is coming to NYC, Tesla feel the pain as China opts for homegrown products

• ⚡ EV: The US Treasury released EV charger tax credit guidance

• 😄 Fun read: Red Bull dominates 2024 F1 Saudi Arabian Grand Prix

2025 Porsche Taycan Turbo GT Debuts With 1,092 HP, 7:07.55 'Ring Lap Time (5 mins read)

The Porsche Taycan Turbo GT, the new top-tier model, boasts 1,092 hp, 988 lb-ft torque, 0-60 mph in 2.1 sec, and a Nürburgring lap time of 7:07.55. Costing $231,995, it features upgrades like a Weissach package for enhanced performance. The prototype was tested at Porsche's Atlanta track, showcasing its exceptional agility and grip. Read more.

Mercedes-AMG E53 Revealed With 603-HP Straight-Six Hybrid Engine (5 mins read)

Mercedes-Benz introduces the AMG E53 Hybrid 4Matic+, a powerful sedan with 603 hp from a turbocharged 3.0-liter inline-six engine and an electric motor. Priced yet to be revealed, it promises 0-62 mph in 3.8 sec and top speed of 155 mph. Equipped with advanced technology, it boasts a luxurious interior and AMG-specific styling. Local availability and pricing to be announced later this year. Read more.

New Audi A3 allstreet channels inner Allroad (3 mins read)

Audi introduces the allstreet, a raised A3 hatchback resembling an SUV. Riding 15mm higher with 30mm ground clearance, it features matte black grille, roof rails, and 17-inch wheels. Priced at €37,450 in Germany, approximately $41,200 USD, with UK specs to follow. Equipped with third-party apps in MMI infotainment, it offers increased comfort and updated interior. Available engines: 35 TFSI and 35 TDI. Read more.

Uber’s posh electric rideshare service is coming to NYC (3 mins read)

Uber launches all-electric luxury rideshare service in New York City, expanding its Comfort Electric service to its biggest market. Customers can hail premium-priced EVs like Tesla, Polestar, and Ford Mustang Mach-E. New features aim to promote greener choices. Uber collaborates with Revel for discounted charging. The company targets to become zero-emissions by 2030, investing $800 million to transition drivers to EVs. Read more.

Tesla feel the pain as China opts for homegrown products (3 mins read)

Apple and Tesla face challenges in China as domestic rivals gain ground. Falling market share and sales indicate rising competition amid US-China tensions. Apple's decline is accelerated by a campaign to reduce iPhone usage among state employees. Both companies resort to discounting to maintain appeal. Wall Street notes their struggles, contributing to Apple's 9% and Tesla's 28% share price drops. China's shift towards local brands affects foreign companies like Nike and Adidas too. Read more.

The US Treasury released EV charger tax credit guidance (4 mins read)

The US Treasury Department updates EV charger tax credit guidelines, allowing up to 30% credit for individuals and businesses. Effective from January 1, 2023, individuals can claim up to $1,000, and businesses up to $100,000. Eligibility is based on census tracts. The Biden Administration aims to deploy 500,000 public chargers by 2030, facilitated by the 30C tax credit. Read more.

Red Bull dominates 2024 F1 Saudi Arabian Grand Prix (3 mins read)

Max Verstappen led Red Bull Racing to a one-two finish at the Saudi Arabian Grand Prix. Teammate Sergio Perez finished second, with Charles Leclerc of Ferrari in third. Verstappen dominated from pole, while Perez recovered from a penalty. Ferrari's Oliver Bearman impressed in his debut, finishing seventh. Verstappen leads the championship. Red Bull leads the Constructors'. Read more.