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Old 11-21-2022, 08:21 PM   #31 (permalink)
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I'm annoyed that Toyota didn't include a 16 kWh battery for the PHEV (Prime) from the beginning because they left federal tax money on the table wasting those credits on an 8.8 kWh battery.

The gen IV should have been what this generation is.

~40 mile EV range is quite good. With a 16 kWh battery (the one in the RAV4 Prime), it could have been closer to 60 miles of range.

That said, I have no idea where the federal subsidy is nowadays. Did the new one supersede the previous one? If so, my understanding is all manufacturers that meet a certain percent of domestic manufacturing and/or assembly now qualify.
The new credit kicks in January 1st, 2023. Companies that hit the cap don't get new credits until 2023. For 2022 the credit is still based on battery size.

The only part of the new law that kicked in for 2022 was the requirement for vehicle assembly in North America. These are the vehicles that meet that requirement:

https://afdc.energy.gov/laws/electri...for-tax-credit

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Old 11-21-2022, 08:27 PM   #32 (permalink)
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This retains the battery capacity provisions of the previous subsidy?

Looks like it's non-refundable, just like the last subsidy, so it favors the wealthy.

Nice to see US manufacturers are no longer penalized for having met their credit limits. A subsidy to the wealth is still dumb though, especially when there's no plan to describe how these massive subsidies will substantially reduce CO2 emissions and how that justifies the spending (or lack of collection, which is essentially the same thing).
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Old 11-21-2022, 09:16 PM   #33 (permalink)
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Originally Posted by JSH
These are the vehicles that meet that requirement[List}
The only electric vehicle assembled in [Unitd States [Oregon [Whiteaker Neighborhood]]] that I would consider is not on the list. :confused"
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Old 11-21-2022, 09:33 PM   #34 (permalink)
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Trikes are considered motorcycles.

My confusion is why such a dumb, regressive tax code would be introduced... except that it's normal to have such idiocy in our governance. There's no attempt to make things better for all citizens; only constituents, and even then usually just the appearance of representing constituent interests. If constituents were better informed, they'd seek results, not rhetoric.
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Old 11-22-2022, 02:06 AM   #35 (permalink)
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Quote:
Originally Posted by redpoint5 View Post
This retains the battery capacity provisions of the previous subsidy?

Looks like it's non-refundable, just like the last subsidy, so it favors the wealthy.

Nice to see US manufacturers are no longer penalized for having met their credit limits. A subsidy to the wealth is still dumb though, especially when there's no plan to describe how these massive subsidies will substantially reduce CO2 emissions and how that justifies the spending (or lack of collection, which is essentially the same thing).
The value no longer varies based on size - anything over 7 kWh gets the credit. The credit is split into two parts:

$3750 of the credit is based on battery assembly. It must be assembled in North America and 50% of the components (by dollar) must be sourced from within North America. That content requirement increases gradually until it hits $100% in 2029.

$3750 of the credit is based on battery minerals. In 2023 40% of the minerals must be sourced OR processed in North America or countries the USA has a free trade agreement. That increases to 80% by 2027

The tax credit is still technically non-refundable but starting in 2024 you can choose to transfer the credit to the dealer and they are required to take the full credit off the purchase price as a point-of-sale rebate. So starting in 2024 buyers no longer have to finance the full amount, wait to get reimbursed, and have the credit dependent on their income. Similar to the current lease loophole but the dealer must give the buyer the full value of the credit.

There is also a cap on the price of the EV. $55K for cars / $80K for trucks or SUVs.

Max GVWR for the credit is 14,000 lbs.

Income limits are $150K single filer / $300K joint filer

There is also a $4000 credit for used EVs. The car must be purchased from a dealer, cost less than $25,000, and be more than 2 years old. Income limits for the used credit are $75K single / 150K joint

There are no caps on the number of new or used credits but the program expires at the end of 2032.

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