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Ford Says Its EVs, Hybrids Eligible for US Subsidies

Ford Mustang Mach-E all-electric SUV car at the Brussels Autosalon European Motor Show, Jan. 13, 2023 (Dreamstime)

Wednesday, 05 April 2023 08:47 AM EDT

Ford Motor Co. said Wednesday that all three of its electric vehicles and plug-in hybrids were eligible for Inflation Reduction Act (IRA) federal tax credits in 2023.

The company's Mustang Mach-E electric SUV will be eligible for a $3,750 credit, while the F-150 Lightning pickup truck will be eligible for a $7,500 credit.

Ford said in March it expects its electric-vehicle business unit to lose $3 billion this year, but will remain on track for a pretax margin of 8% by late 2026.

Sales of Ford's electric vehicles jumped 41% in the first quarter, data Tuesday showed.

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