Rivian warns that most of its vehicles would be ineligible for $7,500 tax credit under proposed changes
Electric-vehicle startups like Rivian, Lucid, Fisker, Canoo and Lordstown are having to adjust to the realities of making vehicles in a harsh economy. WSJ’s George Downs explains some of the challenges they are facing and why some even risk going out of business. Photo composite: George Downs
Electric-vehicle startup Rivian Automotive Inc. is warning that planned revisions to the EV tax credit would put the young car maker at a disadvantage to more-established competitors.
The proposed changes to the federal tax subsidy, which has been in place for years as a way to make EVs more affordable, are part of a broader legislative package deal between Sen. Joe Manchin (D., W.Va.) and Senate Majority Leader Chuck Schumer (D., N.Y.) to cut carbon emissions and healthcare costs.