I didn't know Ford had partnered with Amazon to make Rivian. My guess is that's how Ford got the technology to make the Mustang Mach-E and F-150 Lightening. Also, I didn't know the Mustang Mach-E is made in Mexico.
Anyway, here are some of the details of what qualifies and how much. Keep in mind manufacturers will markup the vehicle for at least half the rebate amount. How much you get of the other half will depend on: 1) demand for the model you're considering, 2) your haggling skills and 3) the continued availability of ICE vehicle alternatives. And personally, I think Senator Manchin will nix the U.S. union-made requirement.
The base amount of the newly proposed tax credit for qualified filers remains $4,000, as it is today, with another $3,500 available if the EV’s battery pack includes at least 40 kilowatt-hours of capacity. In the case of plug-in hybrids, the gas tank cannot exceed 2.5 gallons.
The bill also calls for resetting the clock for makers Tesla and GM’s Chevrolet which had tapped out the incentives allowed under earlier legislation, Nadel said. Current law for the credits phases them out after a particular automaker sells over 200,000 qualifying vehicles.
Other observers said non-U.S. production for some or all of the parts that go into EVs will rule out some of the major makers extending the full credit to their customers, considering they can’t quickly return production to the U.S.
As proposed, EVs qualify for another $4,500 in the tax credit if an automaker makes the vehicle in the U.S. with a union workforce. Another $500 comes into play for automakers using a U.S.-made battery, for a maximum of $12,500 available to qualifying filers.
Today, the only vehicles that would qualify for anywhere near the full proposed credit is GM’s Chevrolet Bolt EV and Bolt EUV, auto site Road Show said.
Anyway, here are some of the details of what qualifies and how much. Keep in mind manufacturers will markup the vehicle for at least half the rebate amount. How much you get of the other half will depend on: 1) demand for the model you're considering, 2) your haggling skills and 3) the continued availability of ICE vehicle alternatives. And personally, I think Senator Manchin will nix the U.S. union-made requirement.
The base amount of the newly proposed tax credit for qualified filers remains $4,000, as it is today, with another $3,500 available if the EV’s battery pack includes at least 40 kilowatt-hours of capacity. In the case of plug-in hybrids, the gas tank cannot exceed 2.5 gallons.
The bill also calls for resetting the clock for makers Tesla and GM’s Chevrolet which had tapped out the incentives allowed under earlier legislation, Nadel said. Current law for the credits phases them out after a particular automaker sells over 200,000 qualifying vehicles.
Other observers said non-U.S. production for some or all of the parts that go into EVs will rule out some of the major makers extending the full credit to their customers, considering they can’t quickly return production to the U.S.
As proposed, EVs qualify for another $4,500 in the tax credit if an automaker makes the vehicle in the U.S. with a union workforce. Another $500 comes into play for automakers using a U.S.-made battery, for a maximum of $12,500 available to qualifying filers.
Today, the only vehicles that would qualify for anywhere near the full proposed credit is GM’s Chevrolet Bolt EV and Bolt EUV, auto site Road Show said.
