Rivian Just Lost the Biggest EV Tax Break -- Here's What It Means

By Travis Hoium – Apr 17, 2023 at 4:30PM

NASDAQ: RIVN

Rivian Automotive

Market Cap

$9B

Today's Change

(3.15%) $0.28

Current Price

$9.32

Price as of April 29, 2024, 10:43 a.m. ET

Rivian buyers are out $7,500 starting tomorrow.

Rivian has lost its $7,500 EV tax credit in the U.S. This is the biggest subsidy for EVs, and despite being a U.S. company, Rivian won't have the credit. What's the impact and how will Rivian react? That's what Travis Hoium digs into in this video.

*Stock prices used were end of day prices of April 17, 2023. The video was published on April 17, 2023.

Travis Hoium has positions in General Motors and Rivian Automotive. The Motley Fool has positions in and recommends Tesla and Volkswagen Ag. The Motley Fool recommends Bayerische Motoren Werke Aktiengesellschaft and General Motors and recommends the following options: long January 2025 $25 calls on General Motors. The Motley Fool has a disclosure policy.

Travis Hoium is an affiliate of The Motley Fool and may be compensated for promoting its services. If you choose to subscribe through their link they will earn some extra money that supports their channel. Their opinions remain their own and are unaffected by The Motley Fool.