On Friday, the House of Representatives passed the Inflation Reduction Act; President Biden is expected to sign it into law this coming week. Among the many provisions of the bill is the revamping of the federal EV tax credit to require, among many other things, an MSRP of less than $55,000 for cars and $80,000 for SUVs and trucks. (Earlier post.)

Once the bill becomes law, the Lucid Air—with an MSRP of $87,400—will no longer qualify for this federal tax credit.

Following in Fisker’s example, Lucid is opening a window where a buyer can quickly place a reservation and convert it to an order before the bill becomes law.

In this case, the refundable reservation deposit ($300 for Pure, $1,000 for Grand Touring and Touring) will become a non-refundable order deposit.