VinFast will still give $7,500 rebate for pre-orders even if the EV tax credit is denied

Vietnamese EV maker VinFast, who will be building a manufacturing facility in Chatham County, sent an e-mail on Sunday to it’s reservation holders saying the company will still make a $7,500 purchase price rebate if the customers see their tax credit requirement denied for reasons not attributable to them.

“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 agrement contains additional details on eligibility for the rebate.”

“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.”

“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!”