F-150 Lightning Is Ford’s Solely EV to Get Full Tax Credit score

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Ford Motor Co. expects just one all-electric car at present in its lineup, the F-150 Lightning pickup, to qualify for a full tax credit score beneath a brand new regulation designed to spur adoption of battery-powered fashions.

Patrons of the F-150 Lightning, in addition to the Lincoln Aviator Grand Touring plug-in hybrid, shall be eligible for $7,500 value of tax credit, with different fashions qualifying for half that quantity, the automaker mentioned April 5.

That can assist defray the price of EVs, which are likely to value greater than gasoline-powered autos. However two of the three all-electric fashions Ford sells — the Mustang Mach-E crossover and E-Transit van — shall 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 Individuals be part of the EV revolution,” Marin Gjaja, chief buyer officer, mentioned in a press release.

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 total tax credit score.

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.

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