cross-posted from: https://rss.ponder.cat/post/221659
The old “Under $20,000” banner has been replaced with “Mid Twenties.” | Image: Slate Auto
Slate Auto’s American-made electric pickup — the one with no paint, no stereo, and no touchscreen — is no longer priced “under $20,000.” The increase is a result of Trump’s “Big, beautiful bill,” which will end the federal EV tax credits on September 30th when signed into law later today.
That sub-$20,000 price for the Indiana-built pickup was a big selling point for the EV startup backed by Jeff Bezos, and was only possible after applying the $7,500 tax credit to the retail price. The price promotion was scrubbed from the Slate Auto site as recently as yesterday, according to TechCrunch. The website now shows an expected price of “mid-twenties.”
Slate’s under $20,000 price tag for a vehicle it won’t start delivering until late 2026 was always accompanied by an asterisk, with fine print highlighting federal incentives that were “subject to change.” And change was certainly expected: Trump campaigned heavily on the promise to end President Biden’s fictitious “EV mandate,” because electric cars are for socialists in MAGA world.
Trump’s embrace of oil and gas, while simultaneously dismantling incentives meant to spur the adoption of EVs and clean energies, is a gift to Chinese makers of electric cars, solar panels, and batteries. The US is now on course to own the past while China is firmly positioned to dominate the future.
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Let’s face it, most buyers will end up spending above $30k with add-ons and modifications. Not a lot of buyers will be willing to leave it unpainted/unprotected and with no stereo/entertainment.
Also to be fair, not a lot of people can actually take advantage of the tax credits.
How so? I thought it was a blanket credit: battery made in US, half credit, car assembled in US, the other half.
Yeah, I looked into it myself because I was obviously interested in an EV, but from what I understood, basically if you expect a refund, you get nothing.
The credit is a one time discount off your owed taxes for that one year only.
So I looked it up further, and I'm yet to confirm this with my tax guru, but it looks like your taxes owed are reduced by the credit. So it's not related to whether you get a ~~thing~~ return or not (as that's tied to your withholding).
Edit: autocorrupt.
Tax credit vs tax rebate/refund probably. As I understand it tax credits you can only take advantage of if you pay enough in taxes, as it's essentially a discount on federal taxes that you owe the government.
I see. As I understand it, automakers successfully lobbied for the credits to be used at the sale, so I wonder if that solved that issue. Moot point in two months, anyway.