Support the Affordable Electric Vehicles for America Act by providing feedback on how to implement the IRA’s Clean Energy Tax Incentives.
Today, Fisker asked its customers to support the newly proposed Affordable Electric Vehicles for America Act. At the end of September, Senator Raphael Warnock introduced this bill in response to the Inflation Reduction Action (IRA). The Affordable Electric Vehicles for America Act would create a phase-in period for the EV sourcing and manufacturing requirement provisions for automakers in the final version of the IRA.
Back in August, Fisker responded to the IRA by enabling a new order system. It was setup for qualifying US-based Fisker Ocean reservation holders to retain eligibility for the $7,500 Federal tax credit. As a result, some US customers retained their eligibility by pre-ordering the Fisker Ocean with a non-refundable deposit. However, not all US-customers could pre-order a Fisker Ocean before the US allocation of the electric SUV sold out.
Once the IRA was signed into law by US President Biden, Fisker began exploring US manufacturing. According to Henrik Fisker, “With our partners at Magna, test vehicles are rolling off the line at the carbon-neutral manufacturing plant in Graz, where we are working diligently on expanding production numbers beyond the current projection of 50,000 units per year. We are also exploring expanding operations to meet this growing demand, including considering manufacturing in the United States.” This could take some time if Fisker goes this route.
Now, the US Treasury wants public input on implementing the IRA’s Clean Energy Tax Incentives. You can share your feedback with the IRS about these sweeping changes. Tell them to implement a phase-in approach for EV sourcing and manufacturing. It will help ensure all Americans benefit, immediately and fully, from the IRA while still incentivizing American manufacturing. Share your input today in support of the Affordable Electric Vehicles for America Act.
In Fisker’s words…
Fisker Supports the Affordable Electric Vehicles for America Act. The proposed Affordable Electric Vehicles for America Act bill would give consumers and EV manufacturers a reasonable transition period to meet new federal EV tax credit requirements following the passage of the Inflation Reduction Act (IRA). Under the IRA passed in August 2022, an EV and its battery pack must be manufactured in North America to be eligible for federal tax credits. In addition, the materials used to produce batteries must be sourced either domestically or from countries with free trade agreements with the United States. Very few EVs in production currently qualify for the new EV tax credits, so tax incentives meant to help consumers purchase an electric vehicle are mostly unavailable to you today. The Affordable Electric Vehicles for America Act would introduce a phase-in period for the EV sourcing and manufacturing requirements stipulated in the Inflation Reduction Act. The bill would delay these provisions, pushing back the battery requirements until 2025 and manufacturing requirements to 2026, giving EV manufacturers a reasonable timetable to meet these new requirements. In the meantime, EV buyers could regain access to the $7,500 federal tax credit that was available before passage of the IRA. How You Can Show Support The U.S. Treasury seeks public input on implementing the Inflation Reduction Act's Clean Energy Tax Incentives. The IRS issued six notices asking for comments on different aspects of extensions and enhancements of energy tax benefits in the Inflation Reduction Act. Specifically, Notice 2022-46 requests public comments on tax credits for clean vehicles. To ensure your voice is heard, the IRS requests your comments be submitted by November 4, 2022. Comments may be submitted electronically via the Federal eRulemaking Portal www.regulations.gov. (Type IRS-2022-0046 in the search field on the www.regulations.gov homepage to find this notice and submit comments).
Reserve Your Fisker Ocean
You can reserve your Fisker Ocean or PEAR by visiting https://fiskerinc.com/reserve. Use referral code DDK87H.
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