Electric-vehicle startup Rivian Automotive Inc. is warning that planned revisions to the EV tax credit would put the young car maker at a disadvantage to more-established competitors.
The proposed changes to the federal tax subsidy, which has been in place for years as a way to make EVs more affordable, are part of a broader legislative package deal between Sen. Joe Manchin (D., W.Va.) and Senate Majority Leader Chuck Schumer (D., N.Y.) to cut carbon emissions and healthcare costs.