Goodbye EV Tax Credit, Toyoda Sticking Around, Hello Handyman Mr. Beast

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Episode #1068: Congress considers sweeping reforms to EV and emissions incentives, while Toyota tightens its corporate family ties with a bold $33B buyout—cementing Akio Toyoda's hold at the top. Plus, Lowe’s gets into the creator game with Mr. Beast and other social stars.

Show Notes with links:

• Congress is fast-tracking a comprehensive budget bill before a self-imposed July 4 deadline, with proposed changes to fuel economy standards, EV tax credits, and even regulations on artificial intelligence.
  • The Senate Commerce Committee proposes eliminating fines for automakers that fail to meet CAFE fuel economy standards.
  • The House version of the bill would terminate the $7,500 new EV credit and other clean vehicle benefits by the end of 2025.
  • A new tax deduction for up to $10K in auto loan interest could be introduced, applying only to U.S.-assembled vehicles and excluding commercial fleets.
  • Proposed limits on AI regulation would block state enforcement for a decade, with critics warning this could endanger public oversight and safety.

• Toyota shareholders have re-elected Akio Toyoda as chairman, reinforcing support for the automaker’s leadership even as a proposed $33 billion buyout of Toyota Industries—its original parent company—faces backlash from global investors.
  • Toyota Industries, founded in 1926, originally birthed Toyota Motor Company and now focuses on manufacturing forklifts and key automotive components.
  • Toyota Motor plans to fully acquire Toyota Industries in a ¥4.7 trillion deal that includes Akio Toyoda investing ¥1 billion of personal funds.
  • Toyoda, the founder’s grandson, was not opposed as chairman by proxy advisers this year for the first time since 2021.
  • He is estimated to receive at least 96% of the vote—up from last year's 72%, his lowest ever.
  • “There are many ways to achieve growth, but unity under shared values has always been Toyota’s strength,” Toyoda said earlier this year

• Lowe’s is breaking out of the hardware aisle and into the influencer economy with its new Creator Network, headlined by none other than YouTube megastar MrBeast.
  • The network kicked off with over 17,000 beta participants and includes big names like DadSocial and Chris Loves Julia.
  • Creators can earn commissions, access training, and build custom storefronts linking directly to Lowes.com.
  • MrBeast will showcase his favorite tools and DIY picks via a curated storefront featuring obstacle course kits and backyard builds.
  • Lowe’s red vests are also helping construct “BeastCity” for season two of MrBeast’s Beast Games on Amazon Prime.
  • “We wanted to go even bigger and over-the-top... and we found the perfect partner to help us achieve that goal,” said Jeff Housenbold, CEO of MrBeast’s brand team.

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