Wonder how fisker is doing their binding contracts, considering they are based in California
I am not sure. However, the actual law that is often cited appears to only apply to brokered sales, so maybe there is no problem.
No they arenât.
It simply means that a non-refundable deposit isnt necessary to meet California state law for a binding purchase agreement.
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It seems to me there are several instances that Cali considers âa binding agreementâ: vehicle purchase agreement, and brokering agreement. This had some requirements that I was not aware of, and find very interesting,
https://codes.findlaw.com/ca/vehicle-code/veh-sect-11736.html
I know the answer starting in January is unknown until the rules of come out- If an ID.4 (2023 US built) lands before December- will it qualify under the old rules?
Yes, it will.
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Yes, so long as itâs a US build. Would also recommend test driving a 2023 Bolt EUV, with the new pricing, itâs faster and better equipped than the ID.4 for less money and post Jan 1, should at least qualify for $3750. Only caveat is itâs single motor, but overall compares very favorably to the base ID.4 models.
I wonder if the IRS will care about a state by state definition of âbindingâ or will they use one broad guide for everyone
They have already issued guidance that states that the only definition that matters is what state law says.
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*North America built, IIRC.
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Looking at this bill, whatâs the best value (best bang for my bucks) car I can order today for 2023?
There are currently 0 vehicles that are definitively known to get any tax credit in 2023.
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thanks. or any car I can order for end of 22, using non-refund deposits or by losing min deposit.
The binding contract/non refundable deposit provision only applies if the agreement was entered into before the new law was signed by the President last month. If the car you get is built in North America, and delivered by December 31, 2022, you can get the tax credit. If it is not built in North America, then no tax credit is available (unless you get a DeLorean time machine, and go back in time to sign a binding agreement.)
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True. I was trying to say that the ID.4 can be EU build (2022) or built in TN (2023) but not sure if theyâll ALL be built in TN or if itâs possible to get unlikely and get a German built 2023.
I read a lot of people pushing off purchases until 2023 to capture the credit on a larger variety of PHEV/EVs but I think a major limiter will be the income requirement.
There are also proposals being made to postpone the NorthAm final assembly requirement.
Yet Kia/Hyundai dealers are still charging over MRSP for their PHEV/EVs here in SoCal. 
The North American final assembly requirement is already in effect. Too late to postpone it. The proposals to rescind it are being made on behalf of Hyundai/Kia. I doubt they will go anywhere. Hyundai/Kia need to follow VWs lead, and move final assembly to North America.
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Yes⌠they are trying to, why do you think itâs a Georgia senator pushing for that postponement (or recission)? Thatâs where they are building their EV factory so heâs trying to garner some favor because that wonât be ready until 2024.
Curious if DoT could hand out similar exemptions to automakers that show commitments to shifting battery mineral mining/production out of China/countries of concern and to FTA countries/US so that those automakers would be eligible for the full $7.5k credit come Jan 1.
https://www.reuters.com/technology/sk-hynix-secures-one-year-waiver-us-govt-chip-equipment-its-facilities-china-2022-10-12/
Great point. There have been a ton of announcements of US based battery plants getting built⌠they donât spring up overnight and the rest of them are at capacity. No doubt the automakers are lobbying hard.