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Tax Credit Proposal - House Bill 11/3

Blur1t

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I don't think they "gave" you $100K. You could take that out of your retirement but have to pay it back in a few years.
There was no penalty on the withdrawal, yes indeed you are correct nothing is ever “given” especially with the IRS.
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LoneStar

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Rivian today doesn't make their battery yet, right? Assume it comes from Asia
 

Dbeglor

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Rivian today doesn't make their battery yet, right? Assume it comes from Asia
Depends on IRS interpretation. They don't make the batteries, but they do make the battery (assembled). Can go down a philosophical hole, as even the Asians don't make the lithium that goes in the batteries...
 

CommodoreAmiga

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Depends on IRS interpretation. They don't make the batteries, but they do make the battery (assembled). Can go down a philosophical hole, as even the Asians don't make the lithium that goes in the batteries...
My understanding is that Rivian assembles the battery using foreign cells.
 

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Zeroemit

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Well even Tesla doesn't make their batteries. They assemble them from OEM battery manufacturers. The big ones, Panasonic, LG, CATL.
 

Dbeglor

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Well even Tesla doesn't make their batteries. They assemble them from OEM battery manufacturers. The big ones, Panasonic, LG, CATL.
Well they have JV's with Panasonic don't they, so again it comes down to interpretation. You could argue they are jointly making them with Pana (i.e. joint venture).

Longer term though, Rivian will be bringing it in house at new factory as well.
 

LoneStar

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OEVA

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Latest, $7500 ev credit, $500 for USA made battery, and $4k for union factory.
80k suv/ pickup


https://www.cnet.com/roadshow/news/ev-tax-credit-house-bill-biden-refundable-cash/
One of the poorest explanations I have seen in a while on how the tax credit works. That type of info is what leads to so much confusion among consumers. Never mentions tax liability and only talks about "owing" when filing in regards to getting a refund/credit.

This is also not the "latest", but rehashes the 11-3 version with $4,000 base, $3,500 for at least a 40kWh battery pack, $4,500 for US made in a Union shop, $500 for US made battery cells.
The 11-3 version also introduced the raise to $80K for Vans, SUVs, PUs.
 

jjswan33

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kurtlikevonnegut

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Autolycus

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GM apparently didn't account for Toyota having a presence in WV when they spent all that money lobbying in Michigan. Anything that doesn't benefit Machin is DOA for this bill.
I know they’re very junior senators, but I’m surprised I haven’t seen anything from the two senators from Georgia on this as well. I’m sure they’re thrilled with the US-made battery provision, but there is never going to be a UAW plant in Georgia, but there’s already the Kia plant and could be others.
 

Rob Stark

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Ahhh. you sure about that?
Tesla doesn't make 18650s in the Model S and Model X.

Tesla doesn't make 2170s for Model 3 or Model Y.

Tesla doesn't make Prismatic LFP for MiC base Model 3 and Model Y.

Tesla is currently making 4680s in California but hasn't installed them in a vehicle being currently sold.
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