The Electric Vehicle (EV) discussion thread (Merged) (3 Viewers)

Rickboy

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Changes coming for the EV Tax Credit.

Here is the actual legislation in its current form.
The EV legislation starts on page 1240

Looks like they’ve agreed on a framework where the EV credit can increase up to $12500. The addtional $5000 is split into two parts. $2500 is applied if the vehicle is assembled in the US. Another $2500 if it’s assembled by union labor in the US. Tesla and GM buyers would be able to take advantage of the credit as it gets rid of the 200000 car limit. Tesla buyers can get up to $10000 in credits. GM buyers would get the full $12500.

However the limits on the price of cars sold is still in place.
Vans $64000
SUVs $69000
Trucks $74000
Any other vehicle $55000

There are also income limits, though they are pretty high. Single filers must have an AGI under $400000. Joint filers can go up to $800000.

I have an order on a Rivian R1T pickup. It would be eligible for a $10K credit. I’ve configured mine for $73850 by using the lower trim level. The higher trim level starts at $73000 so it’s a no go for me. The R1S SUV starts at $73K so it‘s not eligible. The F150 Lightning qualifies for the full $12500. However, the Lariat trim, with the extended range battery would be $500 over the $74000 limit.

Tesla’s Model S and X wouldn’t qualify for any credit. However both the 3, Y, and presumably the Cybertruck will qualify for $10K.. The tax credit is also done as a point of sale rebate. So anyone can use it if they meet the qualifications I mentioned.

The limits on pricing and income seem to still be negotiable. I suspect Illinois Representatives and Senators will push to make the pricing limit higher so they can sell the Rivian’s SUV and higher trim truck. Honestly, I’ll buy the higher trim truck if I can get the credit.

UPDATE: Reading further into this. This is not a TAX CREDIT where you have to owe a certain amount of taxes in order to collect the credit. This is a refund. In 2022, this refund will be given as part of your tax refund. However, in 2023, it becomes a point of sale refund. The dealer handles the paper work and simply applies the discount to your EV purchase.
 
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Rickboy

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Yeah good luck with that
My understanding is that Biden got agreements with the two Senate holdouts for this framework. If that’s the case, then some version of this is going to happen. There is still quite a bit of room for negotiation. It seems to me that the pricing and income limits were not part of the framework and can be changed. The pro union section is negotiable as well.
 
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Changes coming for the EV Tax Credit.

Here is the actual legislation in its current form.
The EV legislation starts on page 1240

Looks like they’ve agreed on a framework where the EV credit can increase up to $12500. The addtional $5000 is split into two parts. $2500 is applied if the vehicle is assembled in the US. Another $2500 if it’s assembled by union labor in the US. Tesla and GM buyers would be able to take advantage of the credit as it gets rid of the 200000 car limit. Tesla buyers can get up to $10000 in credits. GM buyers would get the full $12500.

However the limits on the price of cars sold is still in place.
Vans $64000
SUVs $69000
Trucks $74000
Any other vehicle $55000

There are also income limits, though they are pretty high. Single filers must have an AGI under $400000. Joint filers can go up to $800000.

I have an order on a Rivian R1T pickup. It would be eligible for a $10K credit. I’ve configured mine for $73850 by using the lower trim level. The higher trim level starts at $73000 so it’s a no go for me. The R1S SUV starts at $73K so it‘s not eligible. The F150 Lightning qualifies for the full $12500. However, the Lariat trim, with the extended range battery would be $500 over the $74000 limit.

Tesla’s Model S and X wouldn’t qualify for any credit. However both the 3, Y, and presumably the Cybertruck will qualify for $10K.. The tax credit is also done as a point of sale rebate. So anyone can use it if they meet the qualifications I mentioned.

The limits on pricing and income seem to still be negotiable. I suspect Illinois Representatives and Senators will push to make the pricing limit higher so they can sell the Rivian’s SUV and higher trim truck. Honestly, I’ll buy the higher trim truck if I can get the credit.

UPDATE: Reading further into this. This is not a TAX CREDIT where you have to owe a certain amount of taxes in order to collect the credit. This is a refund. In 2022, this refund will be given as part of your tax refund. However, in 2023, it becomes a point of sale refund. The dealer handles the paper work and simply applies the discount to your EV purchase.
If this holds true and gets passed, looks like I'll be getting an EV in 2023
 
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superchuck500

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Well, I ordered a Rivian R1T today.
I specifically built it out to keep the price under $74000. That is the proposed price cutoff for the new EV Tax Credit. If that cut off goes up, or is taken out, I plan to reconfigure the truck with a few more options.

I was going to wait on this but Rivian announced, on social media, that they were going to have test drive events in my area. However those events are only for people that have orders in. They forced my hand. Of course, almost immediately after I placed my order, the announcement was removed from all of their social media accounts... 😭😭😭

Screen Shot 2021-10-19 at 1.48.05 PM.png


 

Zztop

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Would you?
Drive a Canoo?

 

Rickboy

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Would you?
Drive a Canoo?


I’m going off the pictures alone, but I’m not a huge fan of the van‘s exterior design. However I’m very much intrigued by the interior design. I also like the pickup truck variant.
 
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I’m going off the pictures alone, but I’m not a huge fan of the van‘s exterior design. However I’m very much intrigued by the interior design. I also like the pickup truck variant.
Yeah that truck variant looks like a nicely updated 60's concept hybrid van/truck.
 
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Rickboy

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Yeah that truck variant looks like a nicely updated 60's concept hybrid van/truck.
VW would probably sue if they gave it round headlamps. 😂

I think the dual front quarter windows really hurts the look. First off, that’s a lot of bars interfering with your vision. Also, it pushes the front doors waaaaaay back, make it looks more odd. I don’t hate it, but it’s not me. Again, that interior is🔥🔥🔥
 

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