7500 EV tax credit update with new bill

[Neurio]

Fisker is hinting at being able to offer reservation holders the ability to "order" the car this year, which would allow all current reservation holders of the Fisker Ocean the ability to be grandfathered in under the old tax credit. Hopefully, Lucid will do the same thing.
View attachment 3821

This must be purely for income requirements. Even the Ocean ONE is under $80k

 

[Tesla2.0]

Fisker is hinting at being able to offer reservation holders the ability to "order" the car this year, which would allow all current reservation holders of the Fisker Ocean the ability to be grandfathered in under the old tax credit. Hopefully, Lucid will do the same thing.
View attachment 3821

Of course he does. He already requested Ocean One reservationists to pay $5,000 non-refundable deposit on top of $250 reservation order with no delivery date in sight yet.

 

[RGS_AZ]

The only cars that would qualify for the new tax bill would be:

1. Chevrolet Bolt
2. Chevrolet Bolt EUV
3. Chevrolet Equinox EV
4. Chevrolet Blazer EV
5. Ford F-150 Lightning
6. Ford e-Transit van
7. Ford Mustang Mach-E
8. Volkswagen ID.4
9. Tesla Model 3
10. Tesla Model Y
11. Tesla Cybertruck

Possibly Aptera? although all verbage regarding 3-wheeled and 2-wheeled EVs have been removed from current version

I'm not too sure on the Mach-E, it is built is Mexico sadly.

 

[LCIDdreams]

I'm not too sure on the Mach-E, it is built is Mexico sadly.

Vehicle just needs to be built in North America. GM will also be building the Blazer and Equinox in Mexico.

 

[DeaneG]

As much as I'm hoping the bill will pass, there is still a long legislative and political journey ahead.

Sinema indicates she may want to change Schumer-Manchin deal

Sinema has leverage and she knows it.

www.axios.com

 

[misanoblue]

Fisker Ocean wouldn't quality for the new tax credit as its made in Austria, by the same folks that make the Mercedes G wagon, Toyota supra and BMW 5 series. The $5,000 non-refundable deposit is only for the first 5,000 special edition cars. I actually paid it. The rest will be much lower. Was looking to get a Tesla as a second car, but was thoroughly disappointed after the test drive. Delivery date for US Ocean Ones is Q1 2023, so I suppose you could say that its in sight.

 

[Rob Stark]

The only cars that would qualify for the new tax bill would be:

1. Chevrolet Bolt
2. Chevrolet Bolt EUV
3. Chevrolet Equinox EV
4. Chevrolet Blazer EV
5. Ford F-150 Lightning
6. Ford e-Transit van
7. Ford Mustang Mach-E
8. Volkswagen ID.4
9. Tesla Model 3
10. Tesla Model Y
11. Tesla Cybertruck

Possibly Aptera? although all verbage regarding 3-wheeled and 2-wheeled EVs have been removed from current version

Mach-e gets their battery cells from LG Poland.

Ford signed a big deal with China's CATL for LFP battery cells to increase production of Mach-e and Lightning.

CATL just started looking for a factory site in Mexico but in the meantime will sell Ford cells exported from China.

Same for rear wheel drive base Model 3, it gets cells from CATL's China factory. Model 3 Long Range is over the $55k sedan price cap.

This bill seems like it was written by GM lobbyist.

 

[noobzilla]

Mach-e gets their battery cells from LG Poland.

Ford signed a big deal with China's CATL for LFP battery cells to increase production of Mach-e and Lightning.

CATL just started looking for a factory site in Mexico but in the meantime will sell Ford cells exported from China.

Same for rear wheel drive base Model 3, it gets cells from CATL's China factory. Model 3 Long Range is over the $55k sedan price cap.

This bill seems like it was written by GM lobbyist.

I think overall it still makes more sense to give incentive to US produced batteries to promote job growth here. Hopefully more car makers produce cars and parts here. Just sucks that it's only mostly GM at the moment.

 

[MorganB]

This bill seems like it was written by GM lobbyist.

This.

 

[DeaneG]

The long term goal is to have the USA fully capable of building EVs without obtaining key parts from China. "Global manufacturing" is s nice idea until it becomes clear that your supplier is winning the bigger battle, and will eventually roll over you.

 

[Rob Stark]

I think overall it still makes more sense to give incentive to US produced batteries to promote job growth here. Hopefully more car makers produce cars and parts here. Just sucks that it's only mostly GM at the moment.

The bill supports EV battery pack manufacturing in Mexico and Canada just as much as it supports it in the USA.

The bill supports battery chemical processing and battery cell manufacturing in Mexico, Canada, South Korea, Chile, and Australia just as much as it supports it in the USA.

 

[n8236]

If and when this bill passed, I’ll be lookIng at the Rivian or CyberTruck (if that ever arrives).

I do wonder how many people are on the same boat as me being a Pure buyer. I don’t want assume all Pure buyers need the 7.5k.

 

[noobzilla]

If and when this bill passed, I’ll be lookIng at the Rivian or CyberTruck (if that ever arrives).

I do wonder how many people are on the same boat as me being a Pure buyer. I don’t want assume all Pure buyers need the 7.5k.

Not getting the 7500 is a big hit for me. Really no other option with 400+ mi range within budget. Are you going to get the Rivian or Cybertruck over the Air if bill passes?

 

[Mr_rhythm]

The Lucid was (is?) going to replace my 8 year old Honda Accord. Our income has increased since I bought that car to the point where we wouldn't qualify for the tax credit. But I've never spent that much on a vehicle and in general it's hard to justify. The tax credit was enough to push me over the edge. If they kill that, I'll probably be looking elsewhere (ICE) until EVs become more mainstream and competitive price wise.

 

[noobzilla]

The Lucid was (is?) going to replace my 8 year old Honda Accord. Our income has increased since I bought that car to the point where we wouldn't qualify for the tax credit. But I've never spent that much on a vehicle and in general it's hard to justify. The tax credit was enough to push me over the edge. If they kill that, I'll probably be looking elsewhere (ICE) until EVs become more mainstream and competitive price wise.

With prices continually going up and lithium new supplies being significantly outpaced by demand it's hard to see EV prices going down. Sure there will be more competition which should drive prices down but end of the day price will depend mostly on materials cost and labor. I have been thinking whether to just wait too but I've concluded sooner is better

 

[n8236]

Not getting the 7500 is a big hit for me. Really no other option with 400+ mi range within budget. Are you going to get the Rivian or Cybertruck over the Air if bill passes?

the Rivian truck would be my next choice but turns out I don’t qualify for other criteria

 

[hydbob]

Found this chart on Reddit

 

[Impatient7536]

Found this chart on Reddit

View attachment 3836

not taking the income level threshold into consideration, it looks like this will be worse for the majority of brands and consumers in the short term, since a lot less options will qualify for the 7.5k credit, limiting consumers who are sensitive to the credit. in the long term, it might be a good thing, since it may force high tech manufacturing jobs to return to the US? not sure how it'll work out, or if companies will find loopholes. granted, this hasn't passed any chamber yet, so it's still way too early to get worked up over it.

 

[whywar]

not taking the income level threshold into consideration, it looks like this will be worse for the majority of brands and consumers in the short term, since a lot less options will qualify for the 7.5k credit, limiting consumers who are sensitive to the credit. in the long term, it might be a good thing, since it may force high tech manufacturing jobs to return to the US? not sure how it'll work out, or if companies will find loopholes. granted, this hasn't passed any chamber yet, so it's still way too early to get worked up over it.

To get around the income cap people will have their employed children or straw buyers purchase vehicle. A single person with an income of $47000 or more qualifies for the full $7500 EV credit.

 

[joec]

Found this chart on Reddit

View attachment 3836

Not a lot of straight up EVs that will still get the credit on that list. Way too many PHEVs, if you ask me. And cars like the Model 3 are only eligible at the base model. Few people don't go for the middle long-range models or the performance.