Ford Motor Co said on Wednesday that four of its six electric and plug-in electric hybrid models will see tax credits halved to $3,750 on April 18 after new U.S. Treasury rules take effect.
A model of the all-new Ford F-150 Lightning electric pickup is parked in front of the Ford Motor Company World Headquarters in Dearborn, Michigan, U.S., April 26, 2022. REUTERS/Rebecca Cooksaid on Wednesday that four of its six electric and plug-in electric hybrid models will see tax credits halved to $3,750 on April 18 after new U.S. Treasury rules take effect.
The stricter EV battery sourcing U.S. Treasury guidance issued on Friday triggers new requirements for critical minerals and battery components., but will remain on track for a pretax margin of 8% by late 2026.General Motors GM currently receives that amount for the Chevrolet Bolt and the forthcoming Chevrolet Silverado EV would have been eligible. GM said it expects Bolt vehicles to still qualify for some level of credit.said last week the Model 3 rear-wheel drive credit will be reduced as a result of the guidance.
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