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This bill sems to favor GM, Ford and Tesla if they source batteries other than the China sourced ones in the low end model 3 and can get the model Y seen as an SUV which it is not. All companies that are doing well and don't need help. All other EVs are mostly disqualified after this bill goes into effect so it promotes American made EVs but does not support Electrification of the fleet in general....which was one of the primary goals.
I would agree. Apart from benefitting GM, Ford, Tesla, and Toyota, it also benefits ICE vehicle sales as more people will likely forego electric vehicles since the economies of scale isn't favorable for EV's quite yet. And, consequently, oil and gas since that's what powers ICE vehicles (not that electricity generation doesn't rely on it, but renewables are on the rise).

But I digress.
 

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This bill sems to favor GM, Ford and Tesla if they source batteries other than the China sourced ones in the low end model 3 and can get the model Y seen as an SUV which it is not. All companies that are doing well and don't need help. All other EVs are mostly disqualified after this bill goes into effect so it promotes American made EVs but does not support Electrification of the fleet in general....which was one of the primary goals.
The battery sourcing requirement is a huge obstacle for all carmakers. Manchin is all but eliminating the EV tax credit with this bill. And, unfortunately, he's in control of the whole situation right now. The rest of the Democrats will have to pass whatever he he wants.
 

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Don’t forget the requirement for the new credit that all vehicles need to be equipped with coal-fired cabin furnaces powered by a minimum content of 98% West Virginia bituminous. :)

For the credit itself, I'm not a tax professional but I do my own taxes, and if the text of the bill does not change and if I had ordered my vehicle before the enactment of the bill but was awaiting delivery, I would confidently claim the $7500 tax credit next year during filing. This is a credit that is claimed on the tax return, not a rebate, and you just need to ensure that you have followed the tax code's intent and can clearly demonstrate that the vehicle (which is by then in your possession) was ordered prior to the passing of the bill. In the absence of a "written sales contract", other documents should suffice (e.g. the docs required by CA rebate in my earlier post). But that's me, and don't take my advice on taxes, verify with your own tax pro.

Polestar's response to "cross your fingers" is typical -- and damaging -- as those who take this advice to mean "wait until the bill is signed to order" will never get a tax credit and there is nothing Poletar will be able to do.

For the overall bill, agree with improvius. It is borderline insanity to require 100% of a modern electronic product to be made domestically INCLUDING 100% domestically sourced raw materials (or from "Free Trade" partners, a group that gallingly excludes the EU and Japan). Where will we get the neodyminum and cobalt? And significant quantities of Salton Sea lithium is still years away. Just one component or raw material can disqualify the manufacturer. Both the consumer and the environment look to lose on this.
 

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Apparently they are voting on it tomorrow or Saturday and it should pass....crap
The Senate is voting Saturday. And Sinema and Sanders have to go along. And no poison pills can get added during vote a rama (though maybe an extension to the transition period passes??). And they have to then vote it through.

Then the House has to take it. And not screw it up.

then Biden signs

then everyone has to agree on wtf it is they actually passed
 
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The Senate is voting Saturday. And Sinema and Sanders have to go along. And no poison pills can get added during vote a rama (though maybe an extension to the transition period passes??). And they have to then vote it through.

Then the House has to take it. And not screw it up.

then Biden signs

then everyone has to agree on wtf it is they actually passed
I will guarantee that it will pass and be signed before my car is delivered:mad:.
 

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Do you agree that if it passes as written that Polestar vehicles will not qualify immediately?
I don't know that any one of us can truly speak to what the outcome will be, so it's almost not worth stressing about.

Edit: In other news, check out Fisker's response. Perhaps other manufacturers are also talking about ways to navigate this behind-the-scenes.

 

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I don't know that any one of us can truly answer what the outcome will be, so it's almost not worth stressing about.

Edit: In other news, check out Fisker's response. Perhaps other manufacturers are also talking about ways to navigate this behind-the-scenes.

So this Fisker company is responding by “starting written binding contracts for all trims in 2022”. That goes agains the very intent and also is misguided and smacks of a publicity ploy. As it stands and has (as of tonight) full party support there will not be any amendments and no orders after the signing with qualify for the current credit. The outcome is clear as the wording in the bill specific to EVs is what will be passed. There is no ‘monitoring of the situation’ or ‘crossing of fingers’.

EV tax credits from here on out (except 2023 until the localization requirements hit in 2024) will just be applicable to a couple of brands, and the market will adjust accordingly. Other manufacturers will offer product without the tax credit with competitive pricing offset by savings from not having to adhere to the credit’s restrictions. Sigh.
 

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So this Fisker company is responding by “starting written binding contracts for all trims in 2022”. That goes agains the very intent and also is misguided and smacks of a publicity ploy. As it stands and has (as of tonight) full party support there will not be any amendments and no orders after the signing with qualify for the current credit. The outcome is clear as the wording in the bill specific to EVs is what will be passed. There is no ‘monitoring of the situation’ or ‘crossing of fingers’.

EV tax credits from here on out (except 2023 until the localization requirements hit in 2024) will just be applicable to a couple of brands, and the market will adjust accordingly. Other manufacturers will offer product without the tax credit with competitive pricing offset by savings from not having to adhere to the credit’s restrictions. Sigh.
Tbh that’s what I was suggesting while some are stressing about these things in the middle of the night - manufactures aren’t oblivious to what is happening and that they might have a plan to counter the loss of the tax credit, perhaps in the form of reducing the price of their vehicles or offering a rebate aka market adjustment. Heck, polestar purposely made the price of the base model below 50k to be eligible for tax credits in Europe per their requirements. So it says to me that they at least could do something about their price now that none of their cars would qualify. Though I don’t think their target consumer would waiver with or without the tax credit; just a ‘nice to have’ bonus.

Either way, as has been mentioned, one can always cancel their order. Sucks, but if the tax credit is the deciding factor, then that’s the consumers get-out-of-jail-free card.
 

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Yes, so we will see and hope for the best. Just frustrating that there was a chance to seriously incentivize widespread adoption and it is now constrained and convoluted.
 

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Tbh that’s what I was suggesting while some are stressing about these things in the middle of the night - manufactures aren’t oblivious to what is happening and that they might have a plan to counter the loss of the tax credit, perhaps in the form of reducing the price of their vehicles or offering a rebate aka market adjustment. Heck, polestar purposely made the price of the base model below 50k to be eligible for tax credits in Europe per their requirements. So it says to me that they at least could do something about their price now that none of their cars would qualify. Though I don’t think their target consumer would waiver with or without the tax credit; just a ‘nice to have’ bonus.

Either way, as has been mentioned, one can always cancel their order. Sucks, but if the tax credit is the deciding factor, then that’s the consumers get-out-of-jail-free card.
I have a filled a contact form out for Polestar asking what they plan to do as far as written contracts....customer support could not answer and suggested I fill out the form...they did say the deposit is refundable up until date of handover of the vehicle. I will post Polestars response if and when I get one.
 

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I've also read so many articles where it is understood that this transition phase only pertains to vehicles delivered in 2023. It's not my interpretation of the proposed bill, but it suggests confusion around the whole thing. I suspect those who file to get the ev credit for a delivery in 2022 would claim ignorance if audited. If this thread suggests anything, it's that people will be outspoken and/or confused about the issue.

Edit: let's just try and enjoy our weekends regardless of what happens.
 

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I've also read so many articles where it is understood that this transition phase only pertains to vehicles delivered in 2023. It's not my interpretation of the proposed bill, but it suggests confusion around the whole thing. I suspect those who file to get the ev credit for a delivery in 2022 would claim ignorance if audited. If this thread suggests anything, it's that people will be outspoken and/or confused about the issue.

Edit: let's just try and enjoy our weekends regardless of what happens.
page 385:
(2) FINAL ASSEMBLY.—The amendments made 3 by subsection (b) shall apply to vehicles sold after 4 the date of enactment of this Act.
page 366:
(b) FINAL ASSEMBLY.—Section 30D(d) is amend- 15 ed— 16 (1) in paragraph (1)— 17 (A) in subparagraph (E), by striking 18 ‘‘and’’ at the end, 19 (B) in subparagraph (F)(ii), by striking 20 the period at the end and inserting ‘‘, and’’, 21 and 22 (C) by adding at the end the following: 23 ‘‘(G) the final assembly of which occurs 24 within North America.’’
Once enacted Polestar is ineligible due to final assembly provision unless a written contract exists prior to the date of signing
 

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page 385:
(2) FINAL ASSEMBLY.—The amendments made 3 by subsection (b) shall apply to vehicles sold after 4 the date of enactment of this Act.
page 366:
(b) FINAL ASSEMBLY.—Section 30D(d) is amend- 15 ed— 16 (1) in paragraph (1)— 17 (A) in subparagraph (E), by striking 18 ‘‘and’’ at the end, 19 (B) in subparagraph (F)(ii), by striking 20 the period at the end and inserting ‘‘, and’’, 21 and 22 (C) by adding at the end the following: 23 ‘‘(G) the final assembly of which occurs 24 within North America.’’
Once enacted Polestar is ineligible due to final assembly provision unless a written contract exists prior to the date of signing
Oh, I know, I’m just highlighting the perceived confusion around the proposed bill. I am fully aware most Polestars would not qualify based on MSRP caps, assembly requirements, sourcing requirements, and would exclude consumers with an income over 150k, etc. Hence why this bill is so restrictive and would dissuade some from purchasing an EV altogether.

edit: gotta get that oxford comma in
 

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Oh, I know, I’m just highlighting the perceived confusion around the proposed bill. I am fully aware most Polestar would not qualify based on MSRP caps, assembly requirements, sourcing requirements, and would exclude consumers with an income over 150k, etc. Hence why this bill is so restrictive would dissuade some from purchasing an EV altogether.

edit: gotta get that oxford comma in
oddly its called the Inflation reduction act but signing it immediately increases the price on most currently available EVs thus adding to inflation....ah progress!!!
 

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oddly its called the Inflation reduction act but signing it immediately increases the price on most currently available EVs thus adding to inflation....ah progress!!!
I mean, I was skeptical when a certain high profile senator with profitable ties to oil & gas (as is true for many other senators) was suddenly on board.

But I know talk like that makes people uncomfortable because pOliTicS, which leads us into the very position we are in now. Alas.
 

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I agree 100%...this will help American production of EVs after a few years but will slow the adoption of EVs in general
I see this as a modern version of the chicken tax; why American pickups are literally 50% larger than they need to be.
 
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