We wrote that the Vietnamese EV car company Vinfast is bringing its EV companies to the US. Since then, congress announced it is making changes to the $7,500 federal electric vehicle tax credit, meaning that it becomes much harder to get that sweet, sweet tax deduction. The two major changes are that the tax credit will becomes means-tested (i.e. if your household makes more than a certain amount, you don’t qualify) and sticker-price limited (cars over $40k and SUVs and trucks with a slightly higher limit). That’s pretty dramatic – up to 70% of today’s electric vehicles would not be eligible for a credit, Reuters reports.
Various car manufacturers have scrambled to figure out how to react, but VinFast is taking more extreme steps than most, …
