As much as I was unhappy to see the battery requirements in the new bill have been seeing a lot of announced battery plants in the US since then. Toyota today, Honda last week.
Hopefully the guidance will allow for some ramp up time.
3 Likes
How much leeway does Sec Pete have in easing the restrictions of the IRA WRT the EV tax credit? Can he delay certain portions from taking effect via some waiver till a later date (such as the minimum US/FTA battery component %/N.A. assembly reqs)? Or is he bound by the law and all he can really do is decide which EVs qualify as SUVs/trucks versus cars, etc.?
https://www.reuters.com/business/autos-transportation/skorea-might-raise-concerns-over-us-ev-subsidy-changes-this-week-2022-09-01/?utm_source=reddit.com
The irs seems to do whatever they want. The guidance that came out from them already is inconsistent with the actually ira language.
3 Likes
ID4 qualifies for the 7.5k rebate? how is the wait times on these and is there any dealer/broker for CA?
The 2023 id.4 would qualify for the rest of 22 (assuming one gets delivered during that time period) and may qualify in 23.
The 2022 id.4 no longer qualifies at all.
1 Like
Thanks.
the search feature on LH is strange, I can never search for specific term. Do we have any dealer/broker for CA market, and what are the wait times on these. can someone PM please with any details.
Are all 23s produced in Chattanooga or is production going forward blended with Europe (ie have to look up the VIN)
Weâre not sure, but they converted the plant in TN to build ID.4s and I would assume VW is aware of the rebate intricacies and would try to produce as many as possible in TN. In short, if the VIN starts with a number, itâs probably made in TN, if itâs a letter, itâs probably Europe.
After Jan 1, 2023, the TN built ID.4s should qualify for at least $3750 depending on battery guidance and possibly more depending on where the battery was built, etc. Either way they arenât readily available. I would just reserve at least one (maybe one through a high volume dealership, and one through a low-volume, not sure how theyâre allocated but that seems like a good way to spread risk). Initial deposit is only $100 and is refundable.
1 Like
Interesting: Japan Says Inflation Reduction Act May Be Illegal | CarBuzz
Edit someone briefly posted about South Korea having an issue with the IRA as drafted above, seems like theyâre not the only ones.
There are fewer logical fallacies in The McDonaldâs Menu Song than claiming ineligibility for a tax payor-funded rebate is effectively a tariff, but it was bound to end up in Trade Court. Weâll see where it ends-up, but barring an injunction it will still be implemented.
1 Like
This is nothing more than Hyundai g Toyota making their govts do their biddingâŚ
@Clutch @AutoCompanion
Question, if someone orders now, is it a binding contract and retroactive to 22?
I would not bank on anything. Just order a base build so it will arrive earlier that 2023.
I already have one on order with you, I was just asking in general.
I donât think clear cut guidance is out yet.
I didnât think there was a clear cut answer, thanks for responding.
1 Like
No. That had to have been in place prior to the enactment of the act. Further, that would only help if you were purchasing rather than leasing.
1 Like
There is very clear cut guidance on that question. A binding purchase agreement has to have been put in place prior to the emactment of the IRA. An order now would not qualify for the transition rule.
2 Likes
You have a Fisker on order right, I still donât understand how thatâs a binding contract?