Written by Cláudio Afonso | info@claudio-afonso.com | LinkedIn | Twitter
Vietnamese EV maker VinFast sent an e-mail on Sunday to the reservation holders saying it will still make a $7,500 purchase price rebate if the customers see their tax credit requirement denied for reasons not attributable to them.
Customers are now allowed to convert their non-binding $200 pre-order into a written binding to secure the rebate even if IRS denies the access to the discount.
“For customers who apply for the $7,500 tax credit under current IRC 30D requirements and are denied by the IRS for reasons not attributable to the customer, VinFast will provide the customer a $7,500 purchase price rebate (or similar rebate) on their VinFast vehicle purchase,” the company stated.
VinFast Statement
“If you have not yet heard, Congress is making changes to the $7,500 federal electric vehicle tax credit, making it more difficult for you to access this valuable benefit. The good news is that there is still a short window of time to act and potentially claim the current $7,500 tax credit before the Inflation Reduction Act is signed into law,” VinFast started to say.
“As a current VinFast reservation holder, you have the opportunity to convert your reservation into a “written binding contract” which may help with a claim that your VinFast EV should be eligible for the $7,500 tax credit under current IRC 30D tax credit requirements”.
“If you decide to enter into a binding contract, your current $200 refundable reservation fee will become non-refundable, and the contract should give you a chance of accessing the current $7,500 tax credit before Congress changes the program.
What happens if I don’t qualify for the EV tax credit?
Our VinFast Promise has you covered! VinFast is a brand that not only stands behind our vehicles with our class leading 10-year/125,000-mile warranty, but more importantly, we stand
behind our customers!
BE THE FIRST ONE TO GET THE NEWS
For customers who apply for the $7,500 tax credit under current IRC 30D requirements and are denied by the IRS for reasons not attributable to the customer, VinFast will provide the customer a $7,500 purchase price rebate (or similar rebate) on their VinFast vehicle purchase. The binding
agreement contains additional details on eligibility for the rebate. This is our commitment to you. Because your commitment to us comes with an expectation we want to honor. That’s our VinFast Promise!”
Last week, the manufacturer said is hiring 8,000 more employees for its factory in Vietnam amid production ramp in the upcoming months.
In late July, the company announced a global partnership to become the first ever naming rights partner of the Ironman U.S. Series from 2022. VinFast will be the title partner for the 2022 Ironman World Championship and the 2023 Ironman 70.3 World Championship until 2025.
Earlier in the month, the EV maker received a $1.2 billion incentive package from the State of North Carolina for its electric vehicle manufacturing project in the US designed to produce 150,000 vehicles per year. VinFast will start the construction of the 2,000 acres facility in the upcoming months with the production expected to commence in July 2024.
The package is the largest economic incentive in state history and was signed by Governor Roy Cooper and will allow the EV maker to build the factory at the Triangle Innovation Point in Chatham County with a total investment of about $2 billion USD in the first phase.
VinFast is expanding to the U.S. market with the simultaneous opening of six stores in California. The opening ceremony was held on Thursday at Santa Monica’s store located at Santa Monica Place shopping center where customers could explore VinFast’s electric SUVs – the VF 8 and VF 9.
Written by Cláudio Afonso | info@claudio-afonso.com | LinkedIn | Twitter
