Here Are Ford's Federal EV Credits For 2023
The Inflation Reduction Act stipulated that some electric vehicles were eligible for fairly substantial tax rebates of up to $7,500. That became part of why the Chevy Bolt was the lowest-priced EV on the market, but those rules changed last month.
As with many federal regulations, the exact qualifications for the rebate have been a little murky, with some vehicles qualifying and some not. However, Ford has released a list of what vehicles from its EV and hybrid lineup are eligible for the tax rebates to help clarify the situation.
The Ford F-150 Lightning, the electric truck seemingly everyone wants, but no one can actually buy, is qualified for the full $7,500 credit. The price has been raised multiple times since the vehicle first came around. The Ford Mustang Mach-E also joins the party, qualifying for a $3,750 rebate. Next, the Ford E-Transit electric cargo van also nets a $3,750 tax rebate from Uncle Sam.
Ford rolls out the rebates
For plug-in hybrids, Ford's Escape and Lincoln's Corsair Grand Touring snag a $3,750 rebate, and the Lincoln Aviator Grand Touring qualifies for the total $7,500 rebate. According to a Ford press release, all vehicles must be under $80,000 to be eligible. Maxed-out F-150 Lightnings would not make the cut as the Platinum trim starts at $98,074, and the Lariat trim can be easily kitted out to eclipse $80,000. Ford also notes that any EV delivered before April 18th qualifies for $7,500, so if you're interested, buying sooner will save you more than later.
The rebate stipulates that vehicles must be assembled in the United States to qualify. Amid all the news, it's worth noting that Ford recently recovered from a long production delay relating to the F-150 Lightning's batteries. EV production for the Blue Oval has been slow, even as demand for the truck goes through the roof.