Ford Motor Co. expects just one electrical automobile presently in its lineup, the F-150 Lightning pickup, to qualify for a full tax credit score below a brand new regulation designed to spur adoption of battery-powered fashions.
Patrons of the F-150 Lightning and an upcoming electrical SUV can be eligible for $7,500 value of tax credit, with a number of different fashions qualifying for half that quantity, the automaker mentioned.
That may 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 — can be eligible for less than a partial credit score.
“As we scale our manufacturing to construct extra EVs for extra clients, we consider this new incentive eligibility will assist much more People be part of the EV revolution,” Marin Gjaja, chief buyer officer, mentioned in a assertion.
Ford’s steerage 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 12 months 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 tougher for a lot of EVs presently 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 mentioned 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.
