Updates
June 4, 2023: even the least expensive Tesla Model 3 now qualifies for the full $7,500 tax credit. Link here. From the linked article:
If you're buying a Tesla Model 3 in the US, you can now get the maximum possible tax credit of $7,500 no matter what make you're getting.
Tesla has updated its website to show that the rear-wheel drive Model 3, along with its long range and performance counterparts, now qualify for the full federal tax credit for EVs. You'll also get to the enjoy the same amount of savings if you're buying the all-wheel, long-range or performance Model Y.
The US government issued a revised set of guidelines for which electric vehicles qualify for the federal $7,500 EV tax credit in March to comply with the Inflation Reduction Act rules the president signed last year. Under the new guidelines, which went into effect on April 18th, vehicles using battery components that are 50 percent made or assembled in the US qualify for a tax credit of $3,750. They can only get the full $7,500 credit if their manufacturer sources at least 40 percent of their critical minerals from the US or its free trade partners, which don't include China.
A lot of EVs were kicked off the list of vehicles qualified for credits when the change was implemented, but some were re-added in the days that followed. You could only subtract $3,750 from your taxes for Tesla's rear-wheel drive and long range Model 3 due to the new guidelines, but that's no longer the case.
It's not quite clear if Tesla altered the cars' batteries or found new suppliers to ensure that its new Model 3 deliveries meet the requirements for the new guidelines. But this means in some locations, you could get the standard version of the vehicle for just a bit more than $30,000 — or maybe even less than that if the state has its own perks for EVs.
Original Post
Yesterday I posted a lengthy blog on Tesla as a possible investment opportunity. The "tipping point": the Tesla-Ford partnership.
That blog has now been taken down to allow folks who saw it to reflect on it, as they remember it. The blog will be re-posted later this week, maybe as early as tonight. It will include updates.
Wow, wow, wow. Last night I stumbled on this article after I posted my blog on the Tesla-Ford story.
From the linked article:
Leave it to Ford and its new bedfellow Tesla to shock the automotive world.
On the eve of Memorial Day weekend, Ford CEO Jim Farley announced he would be joining Tesla CEO Elon Musk for a Twitter Spaces discussion, where the two would talk about "accelerating EV adoption," and make an announcement.
That announcement turned out to be a big one: Starting next year, Ford EVs will have access to 12,000 Tesla Superchargers in North America, via a Tesla-supplied adapter. Then starting in 2025, all new Ford EVs will ship with Tesla’s NACS (North American Charging Standard) charging connector, as opposed to the CCS standard which most other EV automakers have been using.
Farley cited the Tesla’s supercharger network’s ease of use and reliability as key differentiators for using the service.
Ford did reiterate that its own BlueOval Charge Network of 10,000+ fast chargers would still be available, giving Ford owners more choice, and a big leg up on the competition with Tesla’s network on tap.
Reaction across the automotive world was mixed, but one thing was for certain: it was a shock.
"Ford blindsided the entire industry with this brilliant move and solidified its position as a leader in the transition to electric vehicles," said Tom Moloughney, EV charging expert and senior editor at InsideEVs.
"The Ford/Tesla deal will cause some initial disruption in the industry, but it will prove to be good for the consumer in the long run."
Much more at the link.
I am really, really excited about this as an investing opportunity.
But the best part? While sorting out this story, I came across an even better investment story. I will post it later. I would mention the name of the company that has really gotten me excited but because this is not an investment site, I cannot post that now.
That opportunity will be mentioned in another stand-alone post.
Disclaimer: this is not an investment
site. Do not make any investment, financial, job, career, travel, or
relationship decisions based on what you read here or think you may have
read here.
All my posts are done quickly:
there will be content and typographical errors. If anything on any of
my posts is important to you, go to the source. If/when I find
typographical / content errors, I will correct them.
Again, all my posts are done quickly. There will be typographical and content errors in all my posts. If any of my posts are important to you, go to the source.
I am incredibly biased, but I don't know if there's a better ad-free, subscription-free blog that is focused on the Bakken. LOL. Seriously, it is amazing what I re-discover on the blog doing word searches. Truly amazing.
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