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zipzag

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Apologies if this was covered in the thread since I don't feel like reading through 20+ pages, but I specifically asked Rivian if they qualified for the upcoming IRA battery source requirements. Below is their response via email. I read that as yes they do even though all the media has been saying they don't. I also read this as signing the binding agreement doesn't necessarily lock you into the old tax credit if you don't want it to, but I could be misinterpreting that portion.
Screenshot_20220814-095034~2.png
I wonder how Rivian council feels about this response
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Olsonsolar

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Not sure if this has already been mentioned but Rivian did not send any confirmation of signing. I took some screen captures but you would think a confirmation email wouldn’t be too difficult!
I got a confirmation email
 

Olsonsolar

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Rivian did us a massive favor and came through in a clutch. Anyone talking "cash grab" should take a hike. How disgusting. Really.
No matter what Rivian does there will always be people trying to find something wrong with them.
 

intimidator

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Under the OLD rules (i.e. if you have signed the binding agreement) what is the INCOME limit for buyers?
And is there a purchase price limit?

Sorry if it was posted, I searched and couldn't find it.
 

freshpow

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Siguy90

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Under the OLD rules (i.e. if you have signed the binding agreement) what is the INCOME limit for buyers?
And is there a purchase price limit?

Sorry if it was posted, I searched and couldn't find it.
No limit on either. The only limits under the old rules were that it needs to be within the company's 200,000 vehicle before the credit starts to phase out and the battery needs to be at least 16kWh to get the full credit.
 

intimidator

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mabowden

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The bill is probably really good long term, but I can see this stopping EV adoption for the next few years while the supply chains get modified, so companies like Rivian have potential customers that are waiting for the truck to be eligible for the tax credit, all the while Rivian has to burn money to get to that point.

Get ready for the next earnings report to talk about how they had to spend 2.5 billion to modify the supply chain to be eligible for the credit.

I guess our only hope is the binding contract (hopefully works), or there are some waivers added when this goes into effect as mentioned before.
Hmmm... I think it is very optimistic that EV companies will invest heavily in order for their consumers to receive a credit. If the market naturally swings that direction, okay, but I don't think they will invest billions to get their customers a $3750 credit. Let's say it cost 2 billion to make that change. They could simply cut $3750 off the purchase price of their first 533,333 vehicles instead...
 

jollyroger

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Hmmm... I think it is very optimistic that EV companies will invest heavily in order for their consumers to receive a credit. If the market naturally swings that direction, okay, but I don't think they will invest billions to get their customers a $3750 credit. Let's say it cost 2 billion to make that change. They could simply cut $3750 off the purchase price of their first 533,333 vehicles instead...
I'll start by saying I'm by no means an expert on this, but if they see a downturn in reservations, (This is assuming the batteries are no longer eligible under the new law). Then I could see getting that taken care of as part of the long term strategy. Especially if folks are moving to a vehicle that is making inroads to be tax eligible. Only Rivian knows what they can do to the price. But don't they have to make that change anyway? Unless they never want to have vehicles eligible for tax incentives. I figure the R2 R3 and even the dual motor R1 would still be able to fall below the 80k limit, so they would be at a competitive disadvantage going forward.
 

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Falcon73

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I have a reinstated order as well. I was contacted on Rivian on 8/11 re the IRA bill and I signed it on Monday, after weighing our options. The President signed it yesterday, so I made that deadline, but who knows how all this will play out.

We just had our first test drive last week and we were amazed, so we are looking forward to the R1T!

My wife is only 5'0", however, so I may need to find a solution to get her into the vehicle unaided.

Our reservation goes back to 1/26/22, but since we are a reinstated order, I don't know where that leaves us.

We upgraded to the Adventure Package on Monday as well and honored the old pricing.

I like what I'm seeing from Rivian so far and we are *former* Tesla owners (only 2 months of ownership).
 

Siguy90

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I decided to ask customer service...they didn't indicate an e-mail was sent. Not sure which email the person above was noting.
I got confirmation as well but I cancelled and reinstated in March so I had to agree for them to take the $1000 again. This is the email I got so I don't think those that didn't cancel/reinstate in March got this:


Hi ,​
Thank you for submitting your $1,000 deposit. It has been received. Your payment may take up to 30 days to process. Keep this email for your records.

Have more questions about the Inflation Reduction Act? Get your answers here.​
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