2025 Electric Vehicle Tax Credit Ending Soon

Retail customers may qualify for a credit up to $7,500 under Internal Revenue Code Section 30D if they buy a new, qualified plug–in Electric Vehicle or fuel cell electric vehicle (FCV). The Inflation
Reduction Act of 2022 changed the rules for this credit for vehicles placed in service from 2023 to 2032. The credit is available to individuals and their businesses.
To qualify, they must:
• Buy it for their own use, not for resale
• Use it primarily in the U.S. 30D Clean Vehicle Credit Customer Eligibility – New Vehicles

In addition, their modified adjusted gross income
(AGI) may not exceed:
• $300,000 for married couples filing jointly
• $225,000 for heads of households
• $150,000 for all other filers
Visit IRS.gov for full eligibility criteria. The information herein does not constitute tax or legal advice. Please consult with your own tax or legal professional

Vehicle eligibility rules for the Section 30D Clean Vehicle Tax Credit have changed, starting on January 1, 2025.
For vehicles placed into service on or after January 1, 2025, the below vehicles are eligible for a $7,500 New Clean Vehicle Credit:

• F–150 Lightning XLT (2023MY, 2024MY, and 2025MY)
• F–150 Lightning Flash (2024MY and 2025MY)
• F–150 Lightning Lariat (2023MY, 2024MY, and 2025MY)
• MSRP* cannot exceed $80,000 *Including optional equipment at delivery. Excluding destination and delivery, dealer–installed options, taxes and fees.

Visit HERE for a full list of eligible vehicles.

The following Ford vehicles, regardless of model year, are not eligible for the 30D New Clean Vehicle Credit in 2025.

Ford – Ineligible Vehicles
• F–150 Lightning Platinum
• F–150 Lightning Pro
• Mustang Mach–E
• Escape PHEV
• E–Transit
• Any F–150 Lightning XLT, Flash, or Lariat that exceeds $80,000 MSRP*
*Including optional equipment at delivery. Excluding destination and delivery, dealer–installed options, taxes and fees.  Note: As of 1/27/25, only 1 F–150 Lightning Lariat nationwide is not eligible for the 30D Clean Vehicle Tax Credit.  Visit IRS.GOV for full eligibility criteria.

Please consult with your own tax or legal professional to determine your individual eligibility. Tax credit amount is based on vehicle–specific component sourcing and assembly and may be subject to change. You may not claim the credit if (1) your adjusted gross income exceeds certain thresholds or (2) the MSRP of the vehicle, as configured, exceeds $80,000 (including all optional equipment attached to the vehicle at the time of delivery to the dealer, but excluding destination charges, optional items added by the dealer, taxes and fees). Tax credit may be applied at point of sale, subject to dealer availability, or as a potential future tax savings. The amount of your tax savings will depend on your individual tax circumstances. Incentives and additional rebates are not within Ford’s control. This information does not constitute tax or legal advice. For additional information, go to https://fueleconomy.gov/feg/tax2023.shtml.