Correct - any orders already placed (prior to bill signing) that are delivered this year are a non-issue, they will get the tax credit. Orders confirmed before bill signing but not delivered till a subsequent year (anything other than 2022) get iffy because of the 5% language the IRS put out. One can hope and see if their tax advisor signs off. There is also the possibility (though an outside bet) of placing a larger non-refundable deposit (5% of the value of the car) at the time you confirm your VIN with Lucid. That can get you up to the 5% threshold before the vehicle is delivered, and still be part of the original binding written contract that was signed before the bill took effect. Methinks that could be viable, but I haven't checked with Lucid yet to see if they'll do it.
I'd like to add that the at least "5% language the IRS put out" is not a specific guideline, but rather it was used as a general example that would be significant enough to lock buyers in a written binding contract towards purchasing the vehicle to qualify for the old tax credit under the Transition rule.
Additionally, the only new rule in effect immediately since the bill was signed is that vehicles must be final assembled in the 'Muricas, all the other parts of the new bill start on January 1, 2023. Since Lucid is made in 'Murica, Lucid isn't really affected until starting January 1, 2023 when the income cap, vehicle price cap, battery and materials source, and other etc. rules take effect.
According to the current language, if we do not receive further definitions/clarifications, and if we want to empirically meet that "at least 5%" general threshold, we technically have until December 31, 2022 to increase our deposit for our Lucid Airs to guarantee our tax credits.
However, at this time, it seems that several state departments including the IRS still needs to make their definitions and clarifications to this unprecedented new law as to what actually qualifies, especially under the Transition rule. Everything is still up in the air, but we still have time until the end of the year and we still technically qualify at this time.
Although, I trust that Lucid's legal department to make the appropriate notifications as we receive updates from the state on this.