Stop spreading FUD.
The order confirmation for your Lucid Air is considered a written binding agreement under the Transition Rule, there is no specific percentage (IRS only uses 5% as a general example, but it is not limited to at least that) as long as the order converts your reservation deposit into a non-refundable order deposit.
The only change on August 16, 2022 when the bill was passed is that EVs that qualify for any EV tax credit under the old or new rule must have final assembly in North America as per the Final Assembly Requirement. This has no effect on Lucid Airs since Lucid Air is already assembled in USA. See
here if you don't believe me on which cars qualify.
Additionally, you can technically still confirm your Lucid Air until December 31, 2022 and qualify for the old EV tax credit rule under the Transition Rule.
Even if so, the IRS will be conducting future guidance on how to manuever this transitory period between the old and new EV tax credit rules, which means in the following weeks, they will be fielding surveys to see what qualifies and doesn't qualify as they themselves don't know just yet. Rivian, Fisker, Nissan, Toyota, Kia and Volkswagen have all sent out very similiar options to reservation holders in an attempt to qualify them for the old EV tax credits under the Transition Rule either prior to August 16 or January 1. Tens to hundreds of thousands of reservation holders on top of most automakers will be likely be prodding the IRS to qualify these as written binding agreements.
Lastly, if in the following weeks the IRS updates specifically details that all written binding agreements must require at least 5% deposit or down payment, Lucid still has until December 31, 2022 to request 5% deposit from reservation holders that already confirmed their orders in order to qualify for this stipulation.
Use this site from IRS to read the full info:
If you bought or leased a new, qualified plug-in electric vehicle (EV) in 2022 or before, you may be eligible for a clean vehicle tax credit up to $7,500 under IRC 30D.
www.irs.gov