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Potential Change to $7,500 EV Tax Credit

Longhorngirl

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SeaGeo

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I'd take an additional 5k off a Rivian...

Edit: Wait, does Rivian use union workers?

Edit 2: No offense to anyone in Texas (@skyote) , but Cornyn says so many just blatantly stupid things. EV adoption is a full frontal assault on Texas? :headbang:
 

Gshenderson

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I wonder if the $80k limit is a base sticker price or as configured for the specific vehicle purchased?
 

Babbuino

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I wonder if the $80k limit is a base sticker price or as configured for the specific vehicle purchased?
Not sure, but I have mine at 79285 at the moment. I can still fit 1 more accessory between now and my delivery if something else shows up :D
 

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SeaGeo

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I wonder if the $80k limit is a base sticker price or as configured for the specific vehicle purchased?
Washington has a limit of 45k for a sales tax exemption, and it's the cost of the actual vehicle. I had to play some math shenanigans with my dealer to get my ID.4 from 45.5 down to 44.9.

To which point for all of the people shutting in dealers, I would be surprised if a manufacturer adjusts numbers like that to save you tax $$.
 

Atlrivian

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I wonder if the $80k limit is a base sticker price or as configured for the specific vehicle purchased?
One would hope it is the base. Otherwise there are going to be a lot fewer Max packs sold.
 

Babbuino

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Will Rivian add a destination price like all manufacturers to make the cars seem cheaper or is it currently included in the price. Maybe they use that to meet price caps
 

txtravwill

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Will Rivian add a destination price like all manufacturers to make the cars seem cheaper or is it currently included in the price. Maybe they use that to meet price caps
I'd assume they will add a destination charge on top of the car later when you do final purchase, fees, etc.

If the credit gets limited to $80K for some of you, just lose some of the gear if you added a lot or it would be worth it to even leave something off you can add later (kitchen/wheels choice, etc?)
 

Friscorays

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Bummer about March 1, 2022.
 
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ajdelange

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The proposed changes are:
1. Limiting the $7,500 tax credit to EVs with retail prices below $80k.
I thought the object was to speed adoption of BEV's. Why would we want to reduce the incentive of those who buy the most BEVs (people well off enough to afford them)?

4. An additional $2,500 tax credit for EVs assembled by union workers.
Right. What the electric auto industry needs right now in order to make more and better cars is union problems.
 

Gshenderson

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I’m ok with a price cap, just wish it was sliding scale vs. a single hard limit. The extra incentive for union workers is complete BS.
 

Atlrivian

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I finally found the language of the bill after 30 minutes of digging. It is attached.

Language is pretty clear and says MSRP. This would imply it is not the base price.

Several thoughts: first, the 80k cap was only just added at the last second before escaping committee. It was not in prior versions of the bill, so is obviously less impotent to the writers of the bill. Second, the bill escaped committe on a party line 14-14 vote, so this has a long way to go.

Even if this passes, I'm sure someone at Rivian is going to realize this is a problem. They may offer some mechanism to extract add-ons like wheel upgrades from MSRP. It would be a separate transaction done by the Guide at time of order. Down side is you couldn't fold in to an auto loan.

Rivian R1T R1S Potential Change to $7,500 EV Tax Credit Screenshot_20210527-085332_Drive
 

bajadahl

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Yeah this is a big deal if the 10k battery upgrade ends up costing me 20k.... This is the one thing that will certainly get me to re-evaluate my position on the Max Pack
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