April 5 (Reuters) – Ford Motor Co (F.N) said on 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 on Tuesday showed.
Reporting by Nathan Gomes in Bengaluru; Editing by Krishna Chandra Eluri and Shounak Dasgupta
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