Potential Repeal of EV Tax Credit Under Trump Administration: Implications for Rivian

Following Donald Trump’s re-election on November 5, 2024, his transition team indicated plans to repeal the $7,500 electric vehicle (EV) tax credit. This credit currently benefits Rivian customers who opt for leasing, making the company’s EVs more financially accessible.

If repealed, the absence of this tax credit could lead to higher leasing costs for Rivian vehicles, potentially impacting affordability and demand. Rivian may need to explore alternative incentives or adjust pricing strategies to maintain its competitive edge in the evolving EV market.

For prospective Rivian lessees, this may be the best time to take advantage of the current credit while it’s available, as it provides valuable cost savings that could soon be unavailable.

Source: Reuters