Details on the new EV credit from the AP

[Crissa]

Early reservations, don't get your hopes up about receiving the full credit in the first few years.

"No electric vehicles currently available for purchase will qualify for the full tax credit when sourcing requirements go into effect in 2023, according to the Alliance for Automotive Innovation, which represents automakers like Ford, GM, Hyundai, Toyota and Volkswagen. The new tax credit significantly reduces how many vehicles are eligible. Seventy percent of electric, hybrid and fuel cell vehicles eligible for purchase in the US are now ineligible for any credit, including partial, according to the trade group. "

https://www.cnn.com/2022/08/17/business/electric-vehicle-tax-credit-how-qualify/index.html

Seventy percent is...

...all the foreign models.

It's not seventy percent of cars delivered. The Bolt, the Mach-E, the Model 3 and the Model Y all qualify. So will any of the trucks - if they can get under the cost cap.

-Crissa

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[Ogre]

Early reservations, don't get your hopes up about receiving the full credit in the first few years.

"No electric vehicles currently available for purchase will qualify for the full tax credit when sourcing requirements go into effect in 2023, according to the Alliance for Automotive Innovation, which represents automakers like Ford, GM, Hyundai, Toyota and Volkswagen. The new tax credit significantly reduces how many vehicles are eligible. Seventy percent of electric, hybrid and fuel cell vehicles eligible for purchase in the US are now ineligible for any credit, including partial, according to the trade group. "

https://www.cnn.com/2022/08/17/business/electric-vehicle-tax-credit-how-qualify/index.html

There is a truckton of nonsense and misinformation out there getting spread by the media so don’t get too excited by this story one way or the other. The government agencies have been sliding out extremely confusing communications on this and right now.

To confuse things more… look at the source for this story.

according to the Alliance for Automotive Innovation, which represents automakers like Ford, GM, Hyundai, Toyota and Volkswagen.

Tesla is building their own making their own cathode material, making cells, and bundling those cells into battery packs. They also get a huge amount of materials from Australia, Canada, and other “Free Trade Countries”.

The IRS hasn’t even released full guidelines on what qualifies a company. So take stories in the near future with a giant grain of salt.

 

[Crissa]

There is a little worry that the ramp of new battery cell factories in the US might slide behind the requirements curve in the bill.

We'll see, honestly. There's no reason they couldn't pass a patch to the bill to fix it, except, you know, Republicans.

-Crissa

 

[Green-Mario]

No tax credit would mean faster delivery on your CT btw. So there is that. Just start saving those pennies now.

 

[Ogre]

No tax credit would mean faster delivery on your CT btw. So there is that. Just start saving those pennies now.

This makes no sense from my side of the screen. Not sure what you are trying to get at here.

 

[Green-Mario]

This makes no sense from my side of the screen. Not sure what you are trying to get at here.

No tax credit means less people buying/affording one. Perhaps many people dropping their orders in "protest". Might remove many from the list waiting for the CT. If you can afford to buy one of these, you honestly don't NEED the credit. It would be a nice to have for sure, but if not having it "breaks the bank" for you. It was too expensive for you to begin with. Sad, hard truth.

 

[Ogre]

No tax credit means less people buying/affording one. Perhaps many people dropping their orders in "protest". Might remove many from the list waiting for the CT. If you can afford to buy one of these, you honestly don't NEED the credit. It would be a nice to have for sure, but if not having it "breaks the bank" for you. It was too expensive for you to begin with. Sad, hard truth.

There was no tax credit when 1m+ people ordered the truck.

 

[Green-Mario]

There was no tax credit when 1m+ people ordered the truck.

Fair point.

 

[Throwcomputer]

No tax credit means less people buying/affording one. Perhaps many people dropping their orders in "protest". Might remove many from the list waiting for the CT. If you can afford to buy one of these, you honestly don't NEED the credit. It would be a nice to have for sure, but if not having it "breaks the bank" for you. It was too expensive for you to begin with. Sad, hard truth.

and protesting by dropping their orders makes no sense. Punish yourself and the manufacturer when you are pissed at the government. seems like the wrong outlet for frustration.

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