Rivian Upsizes and Extends Credit Facility
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Rivian (RIVN) and VW added to list of vehicles eligible for IRA tax credits
April 20, 2023 2:33 PM EDTEarlier this week, the IRS began enforcement of new rules governing which vehicles qualify for tax credits under the Inflation Reduction Act (IRA). The program provides an incentive of up to $7,500 for the purchase of a new battery-electric vehicle and plug-in hybrid EVs. The program requires a certain level of domestic content in those cars' battery packs. As a result, many previously qualifying vehicles lost their eligibility, including models made by Rivian (NASDAQ: RIVN) and Volkswagen.
When the rules went into effect on April... More
