© Reuters. Ford Mustang Mach-E is presented at the New York International Auto Show, in Manhattan, New York City, U.S., April 5, 2023. REUTERS/David ‘Dee’ Delgado/File Photo
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By David Shepardson and Ben Klayman
(Reuters) -Ford Motor said on Wednesday it is unlikely Mustang Mach-E electric vehicles currently in dealer showrooms will qualify for federal tax credits beginning in January.
The U.S. Treasury issued guidance last week detailing new battery sourcing restrictions that take effect Jan. 1 aimed at weaning the U.S. EV supply chain away from China. The current model Mach-E currently qualifies for a $3,750 federal tax credit.
Ford (NYSE:) said it was still reviewing if its F-150 Lighting EV truck will qualify after Jan 1 for tax credits. The company declined to detail why it expects the Mach-E to lose the credit.
The No. 2 U.S. automaker has sold 35,908 Mach-E EVs in the U.S. in the first 11 months of the year, up 3.5% over the same period last year. In October, Ford said it was cutting some Mach-E production.
Ford also said in October it was postponing about $12 billion in EV investments, including delaying its second battery plant in Kentucky.
Ford also said…
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