Ford acknowledged Wednesday that its entire lineup of electric vehicles, including the F-150 Lightning, Mustang Mach-E, and E-Transit commercial van, are eligible for the EV tax credit. However, not all will receive the full $7,500 incentive.
As per the recent guidance from the US Treasury Department, Ford says all three of its fully electric vehicles (and plug-in hybrids) are eligible for the EV tax credits provided by the Inflation Reduction Act passed last August.
Marin Gjaja, chief customer officer for Ford’s electric vehicle business, Model e, said:
Customers made Ford the No. 2 electric vehicle brand in the U.S. last year, and as we scale our production to build more EVs for more customers, we believe this new incentive eligibility will help even more Americans join the EV revolution.
According to Ford’s press release, the incentives per EV will be as follows:
- Ford F-150 Lightning: $7,500
- Ford Mustang Mach-E: $3,750
- Ford E-Transit: $3,750
Ford says any eligible customers who take delivery of an electric vehicle prior to April 18, the eligibilty will be $7,500. Keep in mind, to receive the tax credit the vehicle MSRP must be below $80,000, which rules out the F-150 Lightning Platinum trim.
Ford recently reopened F-150 Lightning orders along with a wave of price hikes as it looks to keep up with the demand.
Despite Gjaja’s comments, after selling only 10,866 electric vehicles in the first quarter of 2023, Ford lost its title as the number-two EV maker in the US to GM, which sold over 20,000 models.
Mustang Mach-E sales fell 19.7% to 5,407 in Q1 after shutting down production in Mexico to prepare the facility to double EV capacity.
The American automaker sold 4,291 F-150 Lightning electric pickups in the quarter after resuming production in March due to a stop-shipment order over battery issuses discovered during manufacturing.
Despite the slow start, Ford aims to triple F-150 Lightning this year to hit an annual run rate of 150,000 by the end of 2023 with Mach-E output doubling to 210,000 annually. The automaker also previously mentioned plans to add a third crew at its Kansas City Assembly Plant this month to boost E-Transit production.
FTC: We use income earning auto affiliate links. More.
