Will my SE still quality for tax credit

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teslarati97 said:
US congress likes to pass mega bills because of partisanship and constant bill blocking by the minority party. Canada has to write the bill in English and French so the mega bill would be double the length! This is the Inflation Reduction Act of 2022 and climate change "incentives" are bundled along with health care, tax reform, etc.
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Yes, I know all about the bill. While the IRA, among other things, aims to reduce inflation and tackle the climate crisis, the EV tax incentives section of the legislation does neither; the bill makes currently-available EVs less affordable to the average American (along with severely restricting choice), and will drastically curtail EV adoption, all in the name of building back better. /end sidetrack
 
Puppethead said:
Maybe they leave it out because it shames so many other EVs due to it's value and exceptional driving capabilities. Not to mention it far exceeds its official range, which is the opposite of most other EVs.
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Yes because 2.7mi/kWh (70mph highway) on the IONIQ5 AWD 20" wheels is the gold standard.
 
Tommm said:
Here, quit yer whining about Mini not being mentioned. ;)

Full color, and I may be the bozo by the steps. Not sure if I was there that day.
https://apnews.com/article/electric-vehicles-tax-credit-cfd3d9322230446f65d629b05c2ae551
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I'm surprised MINI would send the only MINI Cooper SE convertible (a car not slated for production) to a MINI dealership in Highlands Ranch, Colorado. Did MINI remove the Power Spoke rims always shown on that car before shipping it to Colorado?
 
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insightman said:
I'm surprised MINI would send the only MINI Cooper SE convertible (a car not slated for production) to a MINI dealership in Highlands Ranch, Colorado. Did MINI remove the Power Spoke rims always shown on that car before shipping it to Colorado?
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I'm surprised they got the Vette in the picture, but didnt get the Cayenne that was on the left in the picture. I think I saw the red/white one and it is a SE. The convertible is just a car on the floor like the Vette and Cayenne.
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Percivel said:
I appreciate that, but can you cite a reference of some authority?
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https://www.businessinnovationmag.c...onwards, the new,and the other global markets.

In the last paragraph:

The automotive market in China continues to undergo dynamic growth and MINI will soon move from the status of an import brand to a local manufacturer. From 2023 onwards, the new models of the small-car segment developed for e-mobility will be produced in China. Production will be located at the newly constructed automotive plant in the east of China. MINI will use the cars produced there to meet the increased demand in China and the other global markets.
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And it makes a lot of sense. Right now, the SE's chassis/body is fundamentally the same as the Cooper's chassis/body. Moving forward, the new Cooper SE will have a completely different chassis/body. It doesn't really make sense to manufacture it next to the ICE Minis if it is completely different. It is probably far more efficient and cheaper to just have all the Mini EVs produced in China.
 
Hi, I'm new here but I also just placed an order for an SE last week -- so I'm following the new IRA pretty closely as well. In regards to the initial question about whether the SE will still qualify, I think (IANAL) that it'll come down to the guidance from the IRS, in terms of what qualifies as 'binding'. After doing some research, I did find that the IRS issued guidance (in the past, for something else) that said, "In addition, the obligation will be considered binding solely to the extent of the amount stated in the contract. Any payment in excess of the legally obligatory amount (other than due to the application of a reasonable interest rate or investment returns) may not be grandfathered." So fingers crossed, I hope the IRS will issue guidance that says the 'binding' part is solely to the extend of the amount stated in the contract (and not the full contract itself). Again, IANAL, but I feel better moving forward knowing that past guidance has specified that 'binding' relates to the amount stated in the contract and not the entire contract itself. Here's the article I'm referencing that points to a past IRS guidance: https://www.winston.com/en/thought-...ey-guidance-on-amended-code-section-162m.html My thought is to get your order in before the IRA gets signed, sign a vehicle purchase agreement, and then wait for IRS guidance before making your final decision. That and do not cancel your order if you've already done these things until the IRS issues its guidance.
 
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bucoshi said:
Hi, I'm new here but I also just placed an order for an SE last week -- so I'm following the new IRA pretty closely as well. In regards to the initial question about whether the SE will still qualify, I think (IANAL) that it'll come down to the guidance from the IRS, in terms of what qualifies as 'binding'. After doing some research, I did find that the IRS issued guidance (in the past, for something else) that said, "In addition, the obligation will be considered binding solely to the extent of the amount stated in the contract. Any payment in excess of the legally obligatory amount (other than due to the application of a reasonable interest rate or investment returns) may not be grandfathered." So fingers crossed, I hope the IRS will issue guidance that says the 'binding' part is solely to the extend of the amount stated in the contract (and not the full contract itself). Again, IANAL, but I feel better moving forward knowing that past guidance has specified that 'binding' relates to the amount stated in the contract and not the entire contract itself. Here's the article I'm referencing that points to a past IRS guidance: https://www.winston.com/en/thought-...ey-guidance-on-amended-code-section-162m.html My thought is to get your order in before the IRA gets signed, sign a vehicle purchase agreement, and then wait for IRS guidance before making your final decision. That and do not cancel your order if you've already done these things until the IRS issues its guidance.
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Welcome to the forum! I had to look up IANAL (I am not a lawyer), but you provided some good info, L or not.
 
bucoshi said:
<snip> In regards to the initial question about whether the SE will still qualify, I think (IANAL) that it'll come down to the guidance from the IRS, in terms of what qualifies as 'binding'. <snip>.

<snip> So fingers crossed, I hope the IRS will issue guidance that says the 'binding' part is solely to the extend of the amount stated in the contract (and not the full contract itself). <snip>.

<snip My thought is to get your order in before the IRA gets signed, sign a vehicle purchase agreement, and then wait for IRS guidance before making your final decision. That and do not cancel your order if you've already done these things until the IRS issues its guidance.<snip>
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Unfortunately, the various federal agencies don’t tend to offer opinions on pending legislation, otherwise agencies would be spending a bunch of time writing opinions on legislation that never gets signed into law by the President. So, the conundrum here is that by the time there’s an opinion issued on this topic (if one is issued at all), it will be after the IRA has been signed by the President, which means that it will be too late for MINI to develop and re-execute sales contracts to comply with the requirements of the IRA. Whatever sales documents can be executed before the President signs the bill we’ll be stuck with, and they either comply or they don’t.

[edit: typos in last sentence]
 
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Percivel said:
Not that it matters, because neither Chinese or British EVs will qualify next year, but I swear I have read in at least two places that the Chinese EVs are being made for the Chinese market for now, and the Mini EV will still be made in Oxford next year. Is there any definitive info anyone has to clarify this?
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I've posted something similar a couple times based on nothing but speculation. New SE for global markets, old SE for the US.

Otherwise I can't see how BMW could hope to sell any new SEs in the US given the tariff situation with China.
 
SCelectric15 said:
The key phrase in all of this is "the date of enactment" and below is a definition, I believe the date for this bill is 1/1/2023.
Date of enactment This Law is enacted on the date specified in the Enactment Notice in respect of this Law.
So if you receive or sign a contract to purchase you should be ok.
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Enactment is when a bill becomes law... which is when a) the President signs it, b) Congress overrides a Presidential veto, c) the President sits on a bill for 10 days without returning it to Congress while Congress is in session, etc.

If this bill is signed into law, it will become effective Jan 1, 2023 ... but the enactment date will have been much earlier than that (probably sometime next week).
 
FINAL ASSEMBLY.—The amendments made by subsection (b) shall apply to vehicles sold after the date of enactment of this Act.

At least it's the day after enactment.
 
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