Ford Motor Co. expects just one electrical automobile at present in its lineup, the F-150 Lightning pickup, to qualify for a full tax credit score underneath a brand new regulation designed to spur adoption of battery-powered fashions.
Consumers of the F-150 Lightning and an upcoming electrical SUV might be eligible for $7,500 price of tax credit, with a number of different fashions qualifying for half that quantity, the automaker stated.
That can assist defray the price of EVs, which are inclined to price greater than gasoline-powered automobiles. However two of the three all-electric fashions Ford sells — the Mustang Mach-E crossover and E-Transit van — might be eligible for under a partial credit score.
“As we scale our manufacturing to construct extra EVs for extra prospects, we imagine this new incentive eligibility will assist much more Individuals be a part of the EV revolution,” Marin Gjaja, chief buyer officer, stated in a assertion.
Ford’s steering comes after the federal authorities final month finalized standards for the EV credit, which kick in on April 18. They’re a part of the Inflation Discount Act that President Biden signed into regulation final yr and which his administration sees as a key plank in its coverage to assist the auto business transition to an all-electric future.
However the brand new guidelines make it harder for a lot of EVs at present available on the market to qualify for the complete tax credit score.
Learn extra: Biden EV-Sourcing Guidelines Go away Few Autos Eligible for Credit
Ford stated it expects the Mustang Mach-E and E-Transit fashions, in addition to the plug-in hybrid Escape and Lincoln Corsair compact SUVs, to qualify for partial credit of $3,750. It has not specified a launch date for the electrical model of its Lincoln Aviator SUV, the opposite mannequin eligible for the complete credit score.
