Rivian Says Senate Climate Deal Puts It at Disadvantage

Electrical-vehicle startup Rivian Automotive Inc. is warning that deliberate revisions to the EV tax credit score would put the younger automotive maker at a drawback to more-established opponents.

The proposed modifications to the federal tax subsidy, which has been in place for years as a option to make EVs extra inexpensive, are a part of a broader legislative bundle deal between Sen. Joe Manchin (D., W.Va.) and Senate Majority Chief Chuck Schumer (D., N.Y.) to chop carbon emissions and healthcare prices.