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Ford CEO Jim Farley, Execs Head To White House For EV Incentive Talks

President Joe Biden and his administration have been heavily involved in the automotive industry since taking over the White House last January, endorsing right to repair provisions, directing federal agencies to shun ICE-powered vehicles in favor of EVs, releasing an EV charging action plan, setting a goal to reach a 50 percent EV sales mix by 2030, and promising federal funding for semiconductor chip production, while Biden himself got to take a spin in a Ford F-150 Lightning prototype. Ford CEO Jim Farley has also visited the White House a few times over the past year, and will once again head to Washington D.C. along with other executives to discuss potential new EV incentives with the Biden administration, according to Reuters.

Jim Farley, General Motors CEO Mary Barra, and the heads of multiple tech firms “will meet with CEOs who support passing Build Back Better to discuss the ways his (BBB) agenda will make the U.S. economy more competitive, increase worker productivity and workforce participation, lower inflation over the long-term, and strengthen business growth,” according to a White House official.

Additionally, Biden’s current proposal aims to increase the current EV tax credit from $7,500 to as much as $12,500 for union-built electric vehicles, while also introducing a $4,000 credit for used EVs and make companies like Tesla and GM – which have surpassed the current 200,000 EVs sold cap for the existing tax credit – eligible once again. BBB also calls for a 30 percent commercial EV credit and $3.5 billion to convert existing facilities for the production of EVs.

“I’m looking forward to meeting with @POTUS tomorrow to talk about how strengthening consumer incentives will help get more drivers behind the wheels of EVs & help American workers lead the global transition to zero-emissions transportation,” Farley said via Twitter. At @Ford, we’re leading the EV revolution, breaking constraints to increase production of our all-electric icons, like the F-150 Lightning arriving this spring. Still, there’s more to be done to help make this plan a reality.”

We’ll have more on the future of EV incentives soon, so be sure and subscribe to Ford Authority for 24/7 Ford news coverage.

Brett's lost track of all the Fords he's owned over the years and how much he's spent modifying them, but his current money pits include an S550 Mustang and 13th gen F-150.

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Comments

  1. Jim Glass

    Production issues are a major problem. I understand the cop shortage and it will need to be resolved quickly for the market. I think it’s beginning to disincentive many potential EV buys who ordered car as much as two years ago and are still waiting. Ford has four new products, the Mustang Mach E, the Maverick, the F-150 Lightening, and the Bronco, all of which are in short order. Customers want them now and may be unwilling to wait after ordering. The only fix may be to stop taking orders that can’t be filled in 6 months. That’s a had thing to do but in the long run may be best for potential buyers?

    Reply
  2. Tony

    The common person in the USA does not want EV’s nor do they care for the government giving money away to purchase them

    Reply
  3. Montana Man

    Damn, that’s well said!
    It’s good to know yet another fan here of The Oval and the United States of America, and her territories and protectorates.
    Stand Proud!

    Reply
  4. Scottt

    Suggestion; rather than offering huge incentives, simply offer this: Buy an EV new or used, pay no sales tax on purchases up to $100,000. Buy an EV new or used, pay nothing to license for five years. For EV’S up to $100,000. It would be simple, less expensive and extremely effective. Think both parties would support, Republicans love cutting taxes, Dems would love making EV’S more affordable.

    Reply

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