The new Inflation Reduction Act, which places a $80,000 maximum on the price of cars eligible for the entire $7,500 federal tax credit, has the electric truck manufacturer Rivian less than thrilled. Even though the majority of Rivians’ vehicles cost far over $80,000, the company believes it has found a way to go around the system and give pre-order holders a tax credit.
As I’m sure you are aware, begins a document reportedly sent to Rivian CEO, RJ Scaringe , the enacted legislation’s Transition Rule gives anyone with a legally binding written agreement in existence prior to the President’s signature the option to make use of the existing credit. The majority of your preorder customers have patiently endured the delays that come with a new automobile manufacturer. However, these delays have now left many of us in a situation where we may not be able to complete our purchases without the $7,500 tax credit.
Rivals’ strategy is to immediately finish any open deals.
EL PLAN GETS CENTRED ON
In order to start the purchasing process as soon as possible and take advantage of the credit while the trucks are still eligible, Rivian pre-order holders have been inundating the company with requests like the one above. The truck manufacturer claims that it is doing its lot to assist interested preorder holders and consumers in obtaining a formal, binding contract to buy and ensure EV tax credit eligibility prior to the implementation of new limits. (I added emphasis.)
The idea is that even though those customers won’t receive their trucks until next year, their legally binding contracts will allow them to benefit from the $7,500 tax credit this year. However, the operative word here is legally binding, and it’s not clear what will happen to customers who claim the tax credit if their Rivians don’t arrive within the specified timeframe.
Or what might occur to Rivian if the clients who sign said contracts are unable to fulfill them when it comes time to accept delivery for whatever reason!
Having stated that, you must move quickly if you want to take a chance and turn your Rivian per-order into a sale right away, right away, right away! Before the House of Representatives votes to enact the Inflation Reduction Act and before President Biden signs it into law, your agreement must be in writing and be finalized. So, if you haven’t received an email from the organization, you may want to contact customer service as soon as possible to let them know you’re ready to make a purchase.
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