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Rivian is not happy to be left out of new EV tax credit
Posted on 8/3/22 at 9:04 pm
Posted on 8/3/22 at 9:04 pm
quote:
Rivian (RIVN) commented on the new EV federal tax that is expected to be adopted, and the American automaker said that it is not happy to be left out of the new incentive.
Last week, the US Senate came to an agreement on the reform of the federal tax credit for electric vehicles. It looks like it might finally happen after roughly two years of work, though it’s still pending a vote.
The new $7,500 incentive comes with a lot of new requirements for vehicle eligibility – including new price limits – which look like they would price Rivian’s electric vehicles out of the incentive. The price limits are “$80,000 for zero-emission vans, SUVs, and trucks,” as well as $55,000 for electric sedans.
Technically, Rivian’s starting prices are under $80,000, but the automaker doesn’t plan to deliver those cheaper versions for a few years. On top of the price limit, the incentive is also only available to individuals reporting adjusted gross incomes of $150,000 or less, $300,000 for joint filers.
In an interview with Automotive News, Rivian vice president of public policy James Chen confirmed that the company believes that most its vehicles won’t qualify.
As a result, ‘nearly all of our vehicles would be ineligible for incentives,’ Chen said. The company is not even planning to offer a lower-priced model until 2025, he said.
The executive argued that it is putting the company at a disadvantage.
LINK
Cry me a fricking river, James. Maybe you should be selling cheaper trucks to begin with. Better yet, maybe you should have been building hybrid trucks to bridge the gap to a full EV world, as God knows the world is not yet ready to run on EVs only.
This post was edited on 8/3/22 at 9:09 pm
Posted on 8/3/22 at 9:16 pm to saintforlife1
quote:
as God knows the world is not yet ready to run on EVs only.
It actually is when you are planning for lots of people to not own cars anymore.
They don't need to have a grid robust enough to handle EVs, they'll manipulate the economy and regulate away opportunities to purchase and own a car.
This post was edited on 8/3/22 at 9:17 pm
Posted on 8/3/22 at 9:17 pm to saintforlife1
One day EVs will be good for all, but right now the limited mileage and cost will keep most everyone away from them.
Posted on 8/3/22 at 9:17 pm to saintforlife1
One of the reasons I cancelled my R1S order, unfortunately. I had a pre order locked in at $75k which would have qualified and then they hiked pre orders by 20% so now it’s $91k and no longer credit eligible.
Makes a big difference.
Makes a big difference.
Posted on 8/3/22 at 9:19 pm to saintforlife1
EVs are trash, when you can charge it in five minutes hit me up.
Posted on 8/3/22 at 9:21 pm to burke985
How bout when it doesn't need to be charged at all. Then ill listen
Posted on 8/3/22 at 9:27 pm to saintforlife1
quote:
Cry me a fricking river, James
Yeah? How would you like it if, for every job you applied, the government offered the employer $10,000 if they hired anyone but you?
And then…some douchebag told you to “cry me a river”?
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