Following the release of additional guidance from the U.S. Treasury Department, Ford Motor Company has confirmed that all three of its currently available popular electric vehicles as well as its plug-in hybrids are eligible for Inflation Reduction Act federal tax credits in 2023.
“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,” said Marin Gjaja, chief customer officer, Model e.
See below for the eligibility amount for each vehicle.
EVs
Ford F-150 Lightning: $7,500 credit
Ford Mustang Mach-E: $3,750 credit
Ford E-Transit: $3,750 credit
Plug-In Hybrids
Ford Escape Plug-In Hybrid: $3,750 credit
Lincoln Corsair Grand Touring: $3,750 credit
Lincoln Aviator Grand Touring: $7,500 credit
For any eligible customers who take delivery of a Ford EV prior to April 18, the eligibility amount will be $7,500. All of these consumer incentives require the vehicle MSRP be at or below $80,000, and that the purchaser must meet certain income limits. Every one of these vehicles is assembled in North America, which is another requirement for the consumer tax incentive.
As an alternative to the consumer incentive, commercial customers are eligible for commercial tax incentives of as much as $7,500 on all these vehicles.
Since 2019, Ford and our battery tech partners have announced 18,000 new direct EV-related jobs in the United States, which support more than 100,000 indirect jobs in the United States.
As our vehicle lineup evolves and as the eligibility requirements continue to change, we will share the latest eligibility information with customers.
SOURCE: Ford
