Ford (F) confirms its EVs and hybrids are eligible for IRA subsidy packages

Ford (NYSE: F) announced Wednesday that all three of the American automaker’s electric vehicles and plug in hybrids are 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.

Shares of F are down 0.71% in pre-market trading on Wednesday.

By Michael Elkins | [email protected]

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