Federal tax credit

[ERguy]

I signed up before the price increase, didn't have many options (Paint, roof rails, spare tire.Rivian honors the original price. I didn't do the binding purchase agreement as my price was below $80k, but then the battery sourcing info came out. Probably should have. I haven't gotten a delivery date from Rivian (supposedly happening this month sometime.) I have a Hyundai Ionic 5 I really like, and my wife has a RAV4 Prime, so the Rivian is really a luxury and I would like to get it (sell the Hyundai) but the $7500 does play into my decision. Given the lower purchase price I probably couldn't lose either way.

I'm pretty sure you will get the $7500 rebate if you take delivery of the Rivian this year.

Most of the new restrictions are not yet in effect.

The only new requirement between now and the end of 2022 is that the vehicle final assembly must take place in North America.

If Rivian can't deliver your vehicle this year, well that's going to suck.

Signing the purchase agreement might have helped, but there's no sense in dwelling on the decision to not sign it since you can't change it now.

Good luck, and I hope you take delivery in 2022.

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[moosetags]

We signed the binding agreement with Rivian. Because of where we live, we'll be lucky to get our R1T by 2026. I wonder how the tax credit will apply then.

Brian

 

[Jac]

Just to clarify - at the time Rivian offered preorder holders the opportunity to sign binding purchase agreements, it was widely published in the media and exhaustively discussed in this forum that the then forthcoming new EV tax credit law included challenging battery mineral and battery component sourcing requirements for vehicles delivered after 2022 to qualify for a tax credit.

 

[richguess]

Too bad I wasn’t on the forum back then! We’ll see how it pans out. Lots of moving parts.

 

[richguess]

Also, Rivian currently sources their batteries from Samsung. Samsung has a US assembly plant (operating @ 100% capacity) and sources its materials from Hungary. I don’t know if any Rivian batteries come from this plant. The US does not have a free trade agreement with Hungary.

 

[Jac]

Also, Rivian currently sources their batteries from Samsung. Samsung has a US assembly plant (operating @ 100% capacity) and sources its materials from Hungary. I don’t know if any Rivian batteries come from this plant. The US does not have a free trade agreement with Hungary.

I believe the new law’s requirement pertains to the source of the battery minerals themselves and the source of the components used in assembling the batteries. With respect to Rivian’s specific case, I’m hoping we get an answer about the R1’s current batteries in the next few months.

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