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Tax Credit - Fisker Announces Pre-Purchase Program Will Rivian Follow?

Dark-Fx

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Does the credit mean anything if they never make your vehicle? Or don’t make it for years like Rivian went through? Fisker does not really have a strong record of delivering on promises.
I'm still a skeptic regarding Fisker long term but, at this point, Ocean deliveries are largely in the hands of Magna - a company with a very strong track record. They have already delivered something like 55 pre-production validation units and are very likely to remain largely on schedule for production deliveries.
I'm confident enough in Magna that I was willing to go forward with the $5k non-refundable deposit for the Ocean One. Magna is making the i-pace in the same plant. They are clearly capable of creating EVs that are at least decent. If you read the fine print for the deposit, it's more "you can't back out" rather than "you're SOL if we don't make your vehicle". It's totally possible to get the deposit back if they decide not to make your vehicle for some reason.
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I'm confident enough in Magna that I was willing to go forward with the $5k non-refundable deposit for the Ocean One. Magna is making the i-pace in the same plant. They are clearly capable of creating EVs that are at least decent. If you read the fine print for the deposit, it's more "you can't back out" rather than "you're SOL if we don't make your vehicle". It's totally possible to get the deposit back if they decide not to make your vehicle for some reason.
I have confidence Magna can make a great vehicle. They have been for many years. My real concerns are with Fisker. Henrik has had an issue with hyping a product up and not delivering on those promises. I could delve into specifics but if you have been an EV enthusiast for as long as I have you know what I mean. Magna isn’t going to be the one handling aftersales support and much like Chinese made items you can get junk or you can get quality from the same factory. It depends on what the buyer specifies and is willing to pay. If Henrik cuts corners you may get an I-MiEV with a Fisker badge on it.
 

Gamma rays

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I have confidence Magna can make a great vehicle. They have been for many years. My real concerns are with Fisker. Henrik has had an issue with hyping a product up and not delivering on those promises. I could delve into specifics but if you have been an EV enthusiast for as long as I have you know what I mean. Magna isn’t going to be the one handling aftersales support and much like Chinese made items you can get junk or you can get quality from the same factory. It depends on what the buyer specifies and is willing to pay. If Henrik cuts corners you may get an I-MiEV with a Fisker badge on it.
I realize this is going OT, is Fisker close to delivering to any "real" customers? This can be the reason it's much more aggressive at pursuing workarounds to this bill/soon to be law. While Rivian may be in a slightly better position, it stands to lose some orders if it this bill goes through in its current form.

GR
 

Dark-Fx

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I realize this is going OT, is Fisker close to delivering to any "real" customers? This can be the reason it's much more aggressive at pursuing workarounds to this bill/soon to be law. While Rivian may be in a slightly better position, it stands to lose some orders if it this bill goes through in its current form.

GR
They claim the first saleable units will be in customer's hands by November. If they actually deliver on the promises, I should have mine before the dual motor/lfp R1S I have reserved.
 

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ugg, i feel like this has probably been asked and answered a bunch of times but im not sure how to search for it, so, if I signed my Rivian Preliminary Buyer's Agreement already Im all good right? thanks !!!
 

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Friscorays

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Clear, thought out communication with no weasel words. Or diversions about spaces where you can go to talk about Fisker with a mildly-engaged employee. Not even a “s00n”. Wow.
Unless you consider "may" a weasal word, as I do.

E mail quote: "Fisker is reacting quickly by extending to our US reservation holders the invitation to enter into a firm commitment to purchase their Fisker Ocean and confirm their trim level now. This may allow Fisker customers to take advantage of the existing $7500 federal tax credit scheme for which they may qualify under the Transition Rule if the Inflation Reduction Act is enacted*."
 

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That is correct. It only matters to the portion of the 90,000 preorder holders who don’t realistically expect their R1S or R1T to be delivered this year.

Also, the battery mineral and battery component sourcing rules in the legislation kick in for deliveries after 2022 unless prior to the new law’s enactment a binding sales contract is in hand.
So it sounds like the current tax credits don't have a max MSRP for trucks and SUVs such as the $80K limit in the new tax credits? I just want to confirm in case Rivian follows suit and they forecast to NOT meet the materials & battery requirements, I would still qualify in case the R1S MSRP is $83K or something like that?
 

atebit

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Unless you consider "may" a weasal word, as I do.
True, but in this case, the “may” doesn’t qualify a Fisker action, it qualifies a federal gummn’t action, over which Fisker has no control. Also at this point, “I’m Just a Bill”, so…

Rivian R1T R1S Tax Credit - Fisker Announces Pre-Purchase Program Will Rivian Follow? 1659954211453
 

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Unless you consider "may" a weasal word, as I do.

E mail quote: "Fisker is reacting quickly by extending to our US reservation holders the invitation to enter into a firm commitment to purchase their Fisker Ocean and confirm their trim level now. This may allow Fisker customers to take advantage of the existing $7500 federal tax credit scheme for which they may qualify under the Transition Rule if the Inflation Reduction Act is enacted*."
It’s a CYA legal necessity to say may. They don’t know how treasury will implement and can’t give tax advice.
 

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Friscorays

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It’s a CYA legal necessity to say may. They don’t know how treasury will implement and can’t give tax advice.
Of course it is. Simply pointing out that the email does not read "will" so people embarking upon this agreement with Fisker may (or may not) be able to qualify for current tax credit under the transition rule; just as they may or may not actually take delivery of an honest to goodness Fisker vehicle.
 

astonius

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Rivian’s likely not going to do a damn thing about this, and it’s a shame. Even if they wanted, they likely couldn’t get everything coordinated in time for the signing deadline.
 

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So, rivian batteries are supplied by samsung(South Korea, part of free trade deal) and If you ordered before march 1st and If your total config is priced below 80k, you should be good with tax credit of 7500 right. Why are people worried so much? Correct me If I am missing something.
 

Madsen203

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Could one pay for preorder of Fiskar, lose deposit and delivery fee, claim tax credits, and still be ahead financially? Without ever actually intending to take delivery?
 

KeithPleas

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So, rivian batteries are supplied by samsung(South Korea, part of free trade deal) and If you ordered before march 1st and If your total config is priced below 80k, you should be good with tax credit of 7500 right. Why are people worried so much? Correct me If I am missing something.
There's also the income limit of $150k single / $300k couple.
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