Despite plans to phase out the $7,500 federal EV tax credit by the end of 2025, Rivian may still qualify for the incentive through December 31, 2026. This exception applies to automakers who have not sold 200,000 vehicles between December 31, 2009, and December 31, 2025. Rivian, having sold approximately 51,579 vehicles by the end of 2024, is well below this threshold. The company remains on track to begin scaled production and deliveries of its R2 model in 2026, meaning customers could still benefit from the tax credit. While details remain fluid and require legislative approval, this potential exception could provide a significant advantage for Rivian and other young American EV manufacturers like Lucid.
— new from Electrek
