Eliminates tax credit cap after automakers hit 200,000 EVs sold, making GM and Tesla once again eligible
The language in the bill indicates that the tax credit would be implemented at the point of sale instead of on taxes.
In order to get the full credit, the electric vehicle needs to be assembled in North America, the majority of battery components need to come from North America, and contain a certain percentage of minerals from countries with free trade agreements with the US.
A new federal tax credit of $4,000 for used EVs Zero-emission vans, SUVs, and trucks with MSRPs up to $80,000 qualify Electric sedans priced up to $55,000 MSRP qualify
The full EV tax credit will be available to individuals reporting adjusted gross incomes of $150,000 or less, $300,000 for joint filers
This would enable Tesla and GM to get access back to the credit – though in Tesla’s case, it would only apply to some versions of the Model 3 due to the new $55,000 price limit.
The language in the bill indicates that the tax credit would be implemented at the point of sale instead of on taxes. … The full EV tax credit will be available to individuals reporting adjusted gross incomes of $150,000 or less, $300,000 for joint filers.
Does this mean I need to give the dealer a copy of my tax return???
it might be known as the Paperwork Incrementation Act (PIA).
Imagine keeping track of where a mineral comes from used to make a battery cell, who knows where, and eventually making its way into a battery pack, assembled who knows where, and used to power your car. It might just eat up all the profits from the excess demand the industry is incapable of fulfilling just now.
For investors it does not matter the EV revolution has no turning back, just hope it does not run into a Black Swan – nasty little beasts!
The language in the bill indicates that the tax credit would be implemented at the point of sale instead of on taxes. — Does this mean I need to give the dealer a copy of my tax return?
Imagine keeping track of where a mineral comes from used to make a battery cell, who knows where, and eventually making its way into a battery pack, assembled who knows where, and used to power your car. It might just eat up all the profits from the excess demand the industry is incapable of fulfilling just now.
I can imagine it.
If we believe we can build autonomous vehicles and we believe we can build the internet of things (IoT), don’t we think we can track the things in our supply chains?
And don’t companies want to have data on their supply chains for business reasons, like supply chain optimization?
…don’t we think we can track the things in our supply chains?
I don’t doubt our ability, I question the cost and the effectiveness in promoting EV sales. Elon Musk has said that EVs don’t need subsidies. Tesla is one of the few EV sellers that does not get the US Federal subsidy any longer having reached 200,000 cars shipped and has no shortage of customers eager to get one. EVs are not hurting for lack of demand.
