Right now I’m not sure anyone knows for sure which models (by any manufacturer) qualify for the battery materials sourcing requirement or (to a lesser extent) battery assembly requirement. There will likely be many cars that meet the MSRP and North America assembly requirements but only get half the credit, or none of it.
I got the email from Fisker. I’d love to keep my Lucid order, but unless they offer the same opportunity to keep the tax credit I’ll be driving an Ocean, not an Air.
How is Fisker eligible? It’s not manufactured/assembled in US, right?
Oh right I forgot about battery sourcing!
I havent done much research but is that Fisker order confirmation non refundable deposit? If it's refundable, which I doubt, I'll consider reserving and confirming soon.
Hyundai announced in May that they are building a battery and EV factory in Georgia capable of producing 300K cars. Supposed to be ready in 2025.
Probably due to the clause that allows someone that contracted to purchase a vehicle in 2022 but didn't take delivery until 2023 to declare it as a 2022 purchase which would allow for application of the credit under current rules (no sourcing or income limit restrictions). People are hoping that making a nonrefundable deposit along with confirmed order wording allows for this.
What Fisker promises you and what the IRS concludes in an audit are two different things. I think it rather dumb for Fisker to promise something that will likely not fly when the time comes.
Fisker won't be eligible under this new law. What they are "promising" is to convert your preorder into a "contract agreement" which could, in theory, make the car eligible under the old law. But I wouldn't count on that actually panning out.
Really? You’re going to pay for a car upfront with not ETA on delivery all just to secure a tax credit? Fisker is cash strapped and desperate for money hence them asking reservation holders for non refundable deposits. You want to take that risk for them to never make it to production then by all means go ahead and do it but you’ll lose a lot more than $7500 if they go under before actually delivering.
I have raised this issue ow for the second time with my SA. The first time was when the Schumer-Manchin bill was announced. My response was that the legal team was looking into it. I wrote him again after the Senate passed it urging Lucid to allow us to convert reservations to sales agreements before it reaches the President’s desk. Waiting for a response. Have others of you made the same request?
What Fisker are offering is to allow reservation holders that have put down a refundable deposit ($100 - $250) to convert it to a “non-refundable order”.
I don’t know if Lucid would offer a solution considering they are having hard time deliverying cars.
How is Ocean built in Graz, Austria can promise you to get patriotic Federal Tax credit???? Fisker is very low liquid.
My guess is that for some of us who hold Pure reservations, $7,500 is a more significant cost calculation than for those purchasing the higher end models and was factored into the decision to reserve.
