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Ford CEO Jim Farley Says EV Plants Greatly Depend On Tax Credit

To date, reports have indicated that incoming U.S. President Donald Trump intends to kill off the existing federal clean energy tax credit, an action that he could take shortly after taking office next week. This could certainly impact EV sales in the U.S., and it’s unclear if anyone – including Trump’s inner circle – will be able to save the tax credit at this point. However, it seems as if this particular action could have an impact on more than just EV sales – it could also affect EV plants, too.

Ford BlueOval Battery Park Michigan June 2024 Progress

“It would be a significant impact for our industry if it goes away,” Ford CEO Jim Farley told reporters at the Detroit Auto Show, according to the Detroit Free Press. “Many of our plants in the Midwest that converted to EVs depend on the production credit. We would have built those factories in other places, but we didn’t. Our Marshall, Michigan, factory here … the reason we’re building that in Michigan is because of the production tax credit. It changed the math for a lot of investments. That’s the key focus for us.”

“We have the most UAW workers than anybody,” Farley added. “We are America’s car company. Let’s work together to make our industry stronger. We have a lot of policy decisions to make, from tariffs to (carbon emissions) policy, and we can work together to make our industry strong and make companies like Ford, who have bet on America, stronger.”

Ford BlueOval Battery Park Michigan.

As Ford Authority reported last week, Trump called Ford Executive Chairman Bill Ford to discuss many of these proposed policy changes, which could include more than just the elimination of the current tax credit. Thus far, that list includes rolling back fuel efficiency standards, implementing universal tariffs on goods imported into the U.S. from other countries, and potentially canceling a contract between USPS and Oshkosh Defense pertaining to the purchase of all-electric Next-Generation Delivery Vehicles (NGDV).

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. Tax payer dollars shouldn’t be paying for factories for union scale workers to work in.

    Reply
    1. Completely agree!👍. BEVs are a niche product for those who want the things.

      Reply
  2. I tend to agree. It seems that most EV related business in underwritten, and the rest of us are paying. I’m all for legitimate incentives, but there also seems to be misdirected and uninformed governmental actions at play as well.

    Then again, the danged credits that are being sold back and forth with Tesla being the biggest beneficiary are also quite wrong. If a manufacturer can’t make an item within the limits, then they shouldn’t. The one who does shouldn’t be able to capitalize on it, especially that lunatic Musk.

    Reply
  3. This is their own fault for going all in on Biden’s EV scam !
    No one forced them to buy into this nonsense, and pour money down the EV rabbit hole.
    Now they want to whine and everyone to feel sorry for them if their credits and incentives go away.
    To bad I say, you should have listened to your consumers instead of the government promises, you would not be in this boat !
    People in Marshall,Michagan did not want that plant in the first place, and Ford forced it down their throats!
    Do not one bit feel sorry for Farley, hope he loses his job over this fiasco and billions of dollars of losses!

    Reply
  4. WHY should the tax payers flip the bill for a plant they didn’t want? If FORD want’s to build EV’s, then THEY should pay for the plants, and PAY THE TAXES to the cities who host them.

    I was RAISED in Marshall MI, and companies like Walmart, and now Ford, as well as several others have killed the small businesses of this HISTORIC town. How much did the State tax payers spend on this plant as well? Millions? BILLIONS? All because of fake GREEN energy governments.

    Reply
  5. Always seems to take a lot of taxpayer money to keep big scams alive. I hope Trump does cut it along with burning all of Biden’s executive orders.

    Reply
  6. The federal and state and local governments put their fingers on market scales far too often. More often than not, it is to help political friends at the expense of other Americans. It needs to stop. The government needs to get out of the daily lives of people and businesses and get back to the basics of their existence and stop wasting enormous amounts of money. I am hopeful that Trump is on the right track. Tariffs have some role as other government subsidize products that give them an unfair advantage. It will be an interesting couple of years ahead.

    Reply

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