rivian rivn is not happy to be l
Altair Club Cars Rivian (RIVN) is not happy to be left out of new EV tax credit

Rivian (RIVN) is not happy to be left out of new EV tax credit

Rivian warns that most of its vehicles would be ineligible for $7,500 tax credit under proposed changes

All right so rivien is pissed that they are left out of the new eevee tax credit i’m gonna explain to you guys in this video essentially how that happened what congress did here and why the ceo is not happy at all about this so ribbian is basically saying that most of its vehicles would are not going to be ineligible for the 7 500 tax credit under new proposed

Changes in this new fight inflation spending bill and the reason for that is because the stipulation in this bill is that the price limits are eighty thousand dollars for zero emission vans suvs and trucks meaning the price of the max price could be eighty thousand dollars and then fifty five thousand for sedans so technically rivien does have some starting

Prices under 80 000 but the automaker doesn’t plan to deliver those cheaper versions for a few more years so on top of the price limit uh because most of the available trucks right now actually all of them are over a hundred thousand the incentive is also only available to individuals reporting adjusted gross incomes of 150 000 or less or 300 000 for joint filers

Essentially meaning the clientele the whole customer base you know the people wealthy enough to even a splurge thousand dollars on a car on a truck uh well you’re essentially cutting them out of the equation here because you have to have an agi of 150k or less to even qualify for that 7 500 tax credit so in an interview with automated news the ribbian vice

President of public policy james chen confirmed that the company believes that it’s mostly vehicles won’t qualify and he argued that it is putting the company at a disadvantage in a statement uh he said that it would give most breaks to other producers like tesla and gm that have had longer to ramp up production or do some manufacturing overseas so they are

Essentially calling for extending the incentive to apply to its vehicles maybe getting rid of that 80 000 max price limit or taking out the 150 agi stipulation in there so they’re maybe hoping that congress is going to alter uh the bill but that does not look likely here so it looks like uh more and more likely that rivian’s going to be left out of this package

And it’s not law yet but it is closest it has been to becoming lost since the effort to reform it started two years ago all right that article is up on bostonvegas.com i’ll put the link in the description below if you guys uh like this type of content make sure you’re hitting that thumbs up button and if you’re new to the channel hit subscribe help the channel grow

And yeah that’s basically what i want to discuss i just want to touch real quick on the review and the stock price here whether i think it’s a good value going forward would i what i think you know if this bill is going to affect its stock price and whatnot so let’s just say here well first of all markets are having extremely extremely good day and i would say my

Positions i have so fi and coinbase and those are like up 20 alone each today so i’m pretty happy about that and i do think that the ones that see my strategy was the good companies that have been beaten down the hardest are ones that are going to come back the hardest now in terms of vivian’s stock price you’re looking at a stock that went from 180 dollars down

To 20 dollars and now it’s sitting around 30 you know in that 30 to 40 range so i do think it has a lot of potential to you know especially the deal with amazon for the 100 000 uh you know uh ev vans that amazon is starting to roll out now so i i do think that this company has a lot of potential going back um but i do think that there are also good other plays

Uh more maybe more conservative play like you look at a company like ford and i could easily see ford getting back to uh 25 30 you know within a year or two and that’s an easy 2x on your money right there and you know just looking at i mean i just want to touch base here because in terms of the evs you know tesla lucid uh rivien you know it started it’s the

Trend started with all right if you’re gonna get an ev it’s going to be you know super expensive and it’s not going to uh really essentially cater to the average consumer when you have ford putting out like the f-150 lightning you have pictured here the bronco they also have like the mustang the mock e you have um you know i see all these hyundai’s now uh all

The electric i i see like just you know traditional vehicle makers audi bmw they’re all shifting towards ev right so in my opinion the whole eevee industry itself is going to do tremendous going forward over the next few years i do think that that ribbian’s gonna you know this this won’t necessarily help it but i i do think at the at the end of the at the end of

The day people that are buying ribbon you know they’re really not too concerned over 7 000 uh at the end of the day so i don’t think it’s going to make too much of an impact so i don’t think it’s too big of a deal but yeah i don’t like how the government does decide to play favorites and i don’t i don’t think that’s fair either if you’re going to pass a bill for

You know electric vehicles uh you know if you want the consumer to move out of uh traditional uh fossil fuels and you want them to move towards ev then it should be for any ev it there should be no stipula you know you shouldn’t have the government be being picking winning winners and losers essentially and that’s a little bit of what’s going on here so not

Surprising you have all the lobbyists from the traditional uh you know gm and all that stuff so there you have that these these guys are going to face obviously uh you know and that’s part of the argument against these companies rivien and lucid and some of the other companies when you have that uh traditional vehicle makers with a lot of the infrastructure

Already there they have a lot of the money already audi bmw mercedes how are you going to be compete with them uh it’s going to be very difficult i feel like so if you’re going to go ev like i said you don’t have to actually just do reviewing tesla lucid anymore now you have the traditional vehicle makers who are almost like ev plays now as well because the

Whole industry is moving that way so there you have it guys thanks for watching the video uh if the video gets over 100 likes i’ll do a giveaway and there you have it see you in the next one peace out

Transcribed from video
Rivian (RIVN) is not happy to be left out of new EV tax credit By BossInVegas (Stocks \u0026 Crypto)

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