Late last Wednesday, West Virginia Senator, Joe Manchin made a surprise agreement to support President Joe Biden’s package of climate and healthcare spending measures. Electric-vehicle startup Rivian Automotive Inc. (NASDAQ: RIVN) is warning that the planned revisions to the EV tax credit in the package would put the car maker at a disadvantage to more-established competitors.
Rivian takes issue with a planned cap that would make any electric trucks, SUVs and vans selling for more than $80,000 ineligible for the federal subsidy.
Many Lightning models are over 80k so they will get dinged…
What are your thoughts? WHY should they incentivize rich people to buy EV’s using our tax dollars?
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