Rivian And Lucid Have A Workaround Allowing Buyers To Qualify For EV Tax Credit | Carscoops

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Rivian And Lucid Have A Workaround Allowing Buyers To Qualify For EV Tax Credit | Carscoops
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Rivian And Lucid Have A Workaround Allowing Buyers To Qualify For EV Tax Credit | Carscoops carscoops

that could go into law any minute, some forget that there’s already one on the books. The outgoing credit applies to more EVs than the one that will replace it and with that in mind, automakers like Rivian and Lucid, who will soon be ineligible, are trying to help their customers score the credit before it’s gone.

There are quite a number of new stipulations coming to fruition in the new credit. We’ve already covered the fact that it will ultimately require automakers who want to qualifyand to US trade partners. One other stipulation is that high-end EVs won’t qualify anymore. For example, an EV pickup truck or SUV must cost less than $80,000. In addition, buyers themselves will need to be below a certain income threshold.

All of this is part of the new act that features a “transition rule” allowing specifically for those who are already under a binding agreement to get the credit despite the fact that the law will be different when they take delivery of the EV in question., which plans to begin production in Austria later this year, has been credited with figuring out this loophole. Since it’s built outside of the US it doesn’t qualify under the new act either.

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