This is great that they finally announced that they are leaving the original transition language (which was signed into law) alone and clearly the ONEs will qualify. I also have an Ultra reservation that should also qualify, but I am less committed to that purchase anyway, so the small deposit debate (which I think holds up anyway) is going to be less important to me going forward. But glad to see this language nonetheless, firms a few things up for folks wondering.
Thanks.
This is great news. If only Rivian would deliver my R1S as originally promised... I would be so happy. But I'll take the win on the Ocean!
Would you simply qualify under the new rule for the Rivian? Its all USA built right?
For people with the grandfathered pricing they would still qualify under the new rules as the cap is $80k. The new pricing (except for the dual motor small battery) are all over $80k so would no longer qualify. The new rules also have income caps that would disqualify some (many of which that can afford an $80k+ vehicle). The Transition Rule has no price cap or income cap.
I wasn't following Rivian too closely - did they convert the reservations to binding? I know they talked about it, but I was never in an Rivian group.
Rivian is above cost threshold for most models/trims.
Yes. They offered to change my refundable deposit into a non-refundable deposit. I declined. I eventually requested a refund, which they promptly paid. It's just too big and inefficient for what I want right now.
The Rivian reservation is $1,000. They offered to convert $100 of the $1,000 to a non-refundable binding offer so if you converted and later want to cancel, you are out only $100 and not the full $1,000.
Can one of yall Rivian res holders explain whats going on with those deliveries? I feel like I missing something, but from the outside it seems as though they have all these early reservation holders, but that they arnt building Rivians for them. You get invited to some Rivian store where you can pay the new price or get some other configuration? So it seems like they are building trucks but not configuring them for actual reservation holders.
They are delivering but slowly. They are also building to inventory. When you get close they will invite you to the Rivian store to see if you can find something that is close enough to your configuration to make you happy. (They have had a lot of delays on the white interior.) If not you can just hold out for your specific configuration. No change in pricing if you go to the Rivian store vs waiting.
We are going to extend. We got the One sequence # and it says estimated delivery late Q2/Q3. Deadline for extension is Oct 16, 2023. Plus, our accountant will charge twice s much to file an amendment!
You need a new accountant!
It's virtually the same additional work to add the credit to an extension as an amendment. [Either way works and even if you file an extension, you are not precluded from doing an amendment as well if needed.] If you owe money, I would recommend paying the estimate and filing an extension; if you are getting a refund, I would recommend filing and then doing an amendment.
