Ford says unlikely Mustang Mach-E EV | Dorleco

Ford says unlikely Mustang Mach-E EV will qualify for US federal tax credits in January

On Wednesday, Ford Motor (F.N) stated that it is unlikely that the electric Mustang Mach-E EV cars that are presently on display in dealer showrooms will be eligible for federal tax credits starting in January.

To gradually wean the American EV supply chain away from China, the U.S. Treasury released advice this week outlining new battery sourcing limits that go into effect on January 1. A $3,750 federal tax credit is presently available for the current model Mach-E.

Ford stated that it was still determining whether the F-150 Lighting EV pickup would be eligible for tax credits after January 1. The business refused to elaborate on why it believes the Mach-E will not receive credit.

35,908 Mach-E EVs were sold in the United States by the No. 2 automaker in the first 11 months of this year, a 3.5% increase over the same period the previous year. Ford announced in October that it was reducing certain Mach-E EV production.

A $12 billion delay in EV investments was also announced by Ford in October, along with the closure of its second battery factory in Kentucky.

In October, Ford said that it was temporarily eliminating one of the three shifts at its F-150 Lightning assembly plant in Michigan, citing several reasons, including problems with the supply chain.

According to a Reuters dispatch, Ford informed dealers about the tax credit and stated that the expiration is “a great incentive to buy before the end of the year.” Reaching out to consumers in your pipeline now can help you clinch the deal and make sure they can get the credit.”

Ford also informed dealers that they will be extending the incentives for sales and leasing of the 2023 model Mach-E EV and F-150 Lightning.

After new, tighter regulations restricting the amount of Chinese battery content go into effect on January 1, General Motors (GM.N) said on Friday that it anticipates many of its electric vehicles to be eligible for U.S. tax credits the following year.

According to Volkswagen (VOWG_p.DE), the company is “cautiously optimistic that the Chattanooga-assembled 2024 model year ID.4 will qualify for the full $7,500 Tax Credit” in the following year [2024].

Ford stated in December 2021 that it planned to raise the production of the all-electric Mustang Mach-E EV to more than 200,000 cars annually in North America and Europe by 2023.

Written by Ben Klayman and David Shepardson Diane Craft and David Gregorio edited this work.


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