Ford's Mustang Mach-E Unlikely to Qualify for EV Tax Credits in 2024

New regulations targeting Chinese content in batteries lead to potential loss of tax credits for certain EV models.

Ford's all-electric Mustang Mach-E SUV is unlikely to qualify for EV tax credits starting next year, according to a bulletin Ford sent to dealers.
The change in tax credit eligibility is due to the Biden administration's latest guidance aimed at reducing Chinese content in batteries eligible for EV credits.
An electric vehicle may not contain any battery components that are manufactured or assembled by a “foreign entity of concern” starting in 2024 if they are to be eligible for a full tax credit.
Last month, the Lightning was Ford's best-selling EV in the U.S. followed by the Mach-E SUV.
Tesla has said that the tax credit for merely the Model 3 RWD and Long Range would be halved starting next year.