TSLA - Mustang Mach-E Cadillac Lyric Among Ford And GM Vehicles Set To Lose EV Tax Credit Starting Next Year | Benzinga
Legacy automakers Ford Motor Co (NYSE:F) and General Motors Co (NYSE:GM) will reportedly lose EV tax credits on some of their vehicles from next year.
What Happened: Starting Jan. 1, both GM’s Cadillac Lyriq and Chevrolet Blazer EV will ‘temporarily’ lose eligibility to receive the federal EV tax credit of $7,500, Reuters reported. The Chevrolet Bolt EV, however, will continue to be eligible.
Lyriq and Blazer EV are losing out on tax credits owing to two small components. The company will source eligible components in early 2024 to ensure the two regain eligibility early next year, it said.
As per the report, ...