Ford Motor Co. expects just one electrical automobile at the moment 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.
Consumers of the F-150 Lightning and an upcoming electrical SUV can be eligible for $7,500 price 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 under a partial credit score.
“As we scale our manufacturing to construct extra EVs for extra clients, we imagine 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 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 trade transition to an all-electric future.
However the brand new guidelines make it tougher for a lot of EVs at the moment in the marketplace to qualify for the total tax credit score.
Learn extra: Biden EV-Sourcing Guidelines Depart 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 total credit score.