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If repealed, the absence of this tax credit could lead to higher leasing costs for Rivian vehicles, potentially impacting affordability and demand.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

Jose Castillo Founder and Editor

Jose Castillo is the founder of RivianTrackr and has owned and driven Rivians since early in the brand's consumer history. He currently drives an R1S and an R2 in Florida and uses Universal Hands-Free every day. As a credentialed Rivian journalist, he has covered the R2 First Drive in Park City and SXSW firsthand and has spoken directly with Rivian's software and autonomy leadership.

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