Ford Authority

FoMoCo PHEV, EV Models Get $80K MSRP Limit For EV Tax Credit

Ever since a new EV tax credit was announced as part of the Inflation Reduction Act of 2022 months ago, there has been quite a bit of confusion over what models are eligible for the credit, as well as some questions over MSRP limits placed on certain vehicles. The Ford Escape PHEV – for example, is eligible for the credit, though it initially featured an $80k MSRP limit – far more expensive than any Escape model – while its counterpart, the Lincoln Corsair Grand Touring – as well as the Ford Mustang Mach-E – featured caps of $55k. The U.S. Department of Treasury later revised the Escape PHEV limit to $55k, but now, the agency has made some changes to the new EV tax credit once again.

Revised Clean Vehicle Tax Credit MSRP Limits
Model Year Vehicle Description Applicable MSRP Limit
2022, 2023 Ford Escape Plug-In Hybrid $80,000
2022, 2023 Ford E-Transit $80,000
2022, 2023 Ford F-150 Lightning $80,000
2022, 2023 Ford Mustang Mach-E $80,000
2022, 2023 Lincoln Aviator Grand Touring $80,000
2022, 2023 Lincoln Corsair Grand Touring $80,000

In essence, the Treasury is is updating its vehicle classification standard to use the EPA Fuel Economy Labeling standard rather than the EPA CAFE standard. This change will allow crossover vehicles that share similar features to be treated consistently, and will also align vehicle classifications under the clean vehicle credit with the classification displayed on the vehicle label and on

Essentially, this means that all FoMoCo models eligible for the new EV tax credit – the Escape PHEV, Mustang Mach-E, E-Transit, Ford F-150 Lightning, Lincoln Aviator Grand Touring, and Corsair Grand Touring – now feature an $80,000 MSRP limit, which is true of all vans, sport utility vehicles and pickup trucks, while other types of vehicles have a cap of $55,000.

Meanwhile customers that have already purchased vehicles that qualify under the EPA Fuel Economy Labeling classification standard as of January 1st, 2023 are also eligible to claim the credit, including those with vehicles that did not qualify under the prior EPA CAFE standard.

We’ll have more on the new clean vehicle tax credit 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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  1. David Dickinson II

    Another spoonful from Uncle Sugar Daddy.

    Where is an article about Ford’s latest results everyone is talking about?

  2. Glenn Whited

    Please give more information on your Lincoln products. I’ve been told the 2022 Lincoln Corsair Grand touring was a great success. I would love to see how the new 2023 Corsair Grand Touring is being produced in Louisville and the schedule.
    Thank you!
    A Lincoln Owner

  3. Jon

    Combine this news with the huge Mach E production line expansion happening this month, and TSLA owners now rethinking their positions….


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