By Michael Elkins
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.