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.
Ford Was Number 2 Brand Last Year
“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.
Ford F-150 Lightning: $7,500 credit
Ford Mustang Mach-E: $3,750 credit
Ford E-Transit: $3,750 credit
Ford Escape Plug-In Hybrid: $3,750 credit
Lincoln Corsair Grand Touring: $3,750 credit
Lincoln Aviator Grand Touring: $7,500 credit
For eligible customers who take delivery of a Ford EV before April 18, the eligibility amount will be $7,500. All these consumer incentives require the vehicle MSRP to be at or below $80,000 and that the purchaser meet certain income limits. Every one of these vehicles is assembled in North America, which is another requirement for the consumer tax incentive.
Commercial Incentives, Too
Commercial customers are eligible for commercial tax incentives of as much as $7,500 on all these vehicles as an alternative to the consumer incentive.
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 the eligibility requirements change, we will share the latest eligibility information with customers.
Marc Stern has been an automotive writer since 1971 when an otherwise normal news editor said, “You're our new car editor," and dumped about 27 pounds of auto stuff on my desk. I was in heaven as I have been a gearhead from my early days. As a teen, I spent many misspent hours hanging out at gas stations (a big thing in my youth) and working on cars. From there on, it was a straight line to my first column for the paper "You Auto Know," an enterprise I handled faithfully for 32 years. Only a few people know that I also handled computer documentation for most of my earnings while writing YAN. My best writing, though, was always in cars. My work has appeared in Popular Mechanics, Mechanix Illustrated, AutoWeek, SuperStock, Trailer Life, Old Cars Weekly, Special Interest Autos, etc. You can follow me on: Twitter or Facebook.