Ford Motor
is losing half of the electric-vehicle purchase tax credit for two of its popular EVs: The Mustang Mach E and E-Transit van. It’s the latest evidence that the credit is turning out to be a pain in the neck for manufacturers and car buyers.
The EV purchase tax credits, passed as part of the Inflation Reduction Act, were expected to be a boon for the U.S. auto industry. Buyers could expect $7,500 off their tax bill for purchasing a qualifying EV.