2022 deliveries still qualify for tax credit under the old bill?

mach-d

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Rivian just sent out an email to help preorder holders qualify for the $7500 under the old bill, by signing a binding contract. Is our online order already a binding contract?

Will the new bill even apply to deliveries in 2022 and earlier?

 

Mike Curtis

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My understanding, and IANAL, is that existing orders already placed earlier this year are good; law applies to 2023 deliveries (and orders placed in 22 but delivered in 23 are still covered, presuming other criteria are met)
 

Neil4Real

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Rivian just sent out an email to help preorder holders qualify for the $7500 under the old bill, by signing a binding contract. Is our online order already a binding contract?

Will the new bill even apply to deliveries in 2022 and earlier?
That doesn't even make sense, I believe the vehicle has to be placed in service to qualify for the $7,500.
 

Travman1974

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Not exactly, If the new bill passes the house and is signed into law it supersedes the old bill.The majority of the amendments for the EV tax credit would only apply to vehicles placed into service after 12/31/22. The Final Assembly and MSRP limits would go into effect immediately. Neither would have an impact on the Mach-E.
 

SnBGC

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That doesn't even make sense, I believe the vehicle has to be placed in service to qualify for the $7,500.
According to the e-mail from Rivian......the new bill has a provision that allows buyers to be grandfathered into the existing plan if they have a "binding contract" in place.
 


Neil4Real

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According to the e-mail from Rivian......the new bill has a provision that allows buyers to be grandfathered into the existing plan if they have a "binding contract" in place.
Damn, what a tricky situation to be in. Rivian is still struggling to really ramp up production but you're then locked into a binding agreement even if it constantly gets delayed and you change your mind. Or are they also putting a cancellation clause in there to put people at ease?
 

dbsb3233

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Damn, what a tricky situation to be in. Rivian is still struggling to really ramp up production but you're then locked into a binding agreement even if it constantly gets delayed and you change your mind. Or are they also putting a cancellation clause in there to put people at ease?
It's certainly a mess. Rivian and Lucid get especially screwed with this bill, as their vehicles (which they assumed would be eligible for years) will no longer be eligible. While a manufacturer like Tesla (who already got their full $1.5B of buyer tax credits) gets more now (if they can navigate the battery materials requirements).
 

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Damn, what a tricky situation to be in. Rivian is still struggling to really ramp up production but you're then locked into a binding agreement even if it constantly gets delayed and you change your mind. Or are they also putting a cancellation clause in there to put people at ease?
It is a binding agreement with a cancel clause that includes a financial penalty of $100.
 

Neil4Real

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It is a binding agreement with a cancel clause that includes a financial penalty of $100.
That's a fair shake, I'd play those odds. While not a free breakaway, I'd take the $100 gamble it shows up lol.
 

Neil4Real

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It's certainly a mess. Rivian and Lucid get especially screwed with this bill, as their vehicles (which they assumed would be eligible for years) will no longer be eligible. While a manufacturer like Tesla (who already got their full $1.5B of buyer tax credits) gets more now (if they can navigate the battery materials requirements).
Wow, good point. That is insane. You'd think they'd have done it better to where those that still qualify for the previous can still utilize those funds if they don't qualify for the new one, without going full bore on double dipping both funds. Man, Tesla just pulls 'em out, holy cow.
 

dbsb3233

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Not exactly, If the new bill passes the house and is signed into law it supersedes the old bill.The majority of the amendments for the EV tax credit would only apply to vehicles placed into service after 12/31/22. The Final Assembly and MSRP limits would go into effect immediately. Neither would have an impact on the Mach-E.
Wow, I was just reading that too. So someone that planned to take delivery of an EV6, Ioniq 5, e-tron, Taycan, or XC40 Recharge next month really gets screwed. Unless they get that "binding contract" locked in fast.
 

Z-one

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Wow, I was just reading that too. So someone that planned to take delivery of an EV6, Ioniq 5, e-tron, Taycan, or XC40 Recharge next month really gets screwed. Unless they get that "binding contract" locked in fast.
If Ford was smart they would have opened up the orders for Mach-E for 2023 this week, and done a "written binding contract" then ever car ordered would qualify for the rebate under the old rules. The 200k limit wouldn't matter is how I read it since everyone will be deemed to buy it the day before the President signs the bill into law.
 

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That's a fair shake, I'd play those odds. While not a free breakaway, I'd take the $100 gamble it shows up lol.
My thoughts as well. I took the gamble just in case their solution is legal and accepted. They seem like a sensible company so I am hopeful that Rivian succeeds and can carve a place for themselves in the industry.
 

Travman1974

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If Ford was smart they would have opened up the orders for Mach-E for 2023 this week, and done a "written binding contract" then ever car ordered would qualify for the rebate under the old rules. The 200k limit wouldn't matter is how I read it since everyone will be deemed to buy it the day before the President signs the bill into law.
The contract would have to be with a dealer and not Ford. I wonder if a creative dealer can create some type of contract to purchase a 2023 MY, but with out a VIN not sure it would be valid.
 

Z-one

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The contract would have to be with a dealer and not Ford. I wonder if a creative dealer can create some type of contract to purchase a 2023 MY, but with out a VIN not sure it would be valid.
Ford could do what Rivian and others are doing and make your online order binding. Maybe too difficult because of the dealer network.

 

 
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