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Ford Pro and Ernst & Young LLP Helping Customers Better Understand EV Tax Incentives

Apr 3, 2023 | 3 min read

When Ford ProTM surveyed 1,250 corporate fleet decision-makers in December 2021, we found that nearly three-fourths (74%) of U.S. respondents were feeling the push to go electric.1060

 

Considering that the U.S. Energy Information Administration (EIA) expects EV fleet shares to reach 31% globally by 2050,1116 it’s no wonder companies are recognizing the sense of urgency in this transformation. However, our survey also found that many respondents are wary of EV adoption.

 

More than half (59%) of U.S. respondents foresee the process of adopting EVs as “a huge headache,”1060 which is partially why Ford Pro is developing a suite of solutions designed to guide commercial fleets on a smooth journey to electrifying their fleets. Today, Ford’s commercial division announced a new leg of this endeavor: Ford Pro is working with Ernst & Young LLP (EY US) to offer information on valuable EV tax credits and incentives to eligible Ford Pro customers at no additional cost.

Benefitting from Inflation Reduction Act Tax Credits

If you have purchased Ford Pro Charging equipment, you may qualify for tax credits under the Inflation Reduction act.

Since the Inflation Reduction Act (IRA)305 has made new tax credits available for commercial buyers of qualifying EVs, plug-in hybrid electric vehicles (PHEVs) and EV charging equipment,1117 this is a crucial moment for companies looking to get the greatest benefit from their EV adoption. Ford Pro, with Ernst and Young LLP (EY US), is here to help.   Under the IRA, Ford Pro’s commercial customers who own 2023 E-TransitTM vans, 2023 F-150® Lightning® pickups, 2023 Mustang® Mach-E® all-electric SUVs or 2023 Escape® PHEVs may qualify for electric vehicle tax credits of up to $7,500 per qualifying vehicle purchased.1117 Those who purchase and install Ford Pro Charging equipment may also qualify for additional credits.

Ford Pro: a One-Stop Shop for Electrifying Commercial Fleets

 

This initiative to help commercial customers understand the Inflation Reduction Act electric vehicle tax credits strengthens Ford Pro’s position as a one-stop shop for customers, adding to the lineup of vehicles, software, service, charging and finance solutions designed to help customers reduce costs and improve productivity. The complimentary service is open to all Ford commercial customers assigned a Ford Fleet Identification Number (FIN) and includes a one-time, 30-minute session to clarify IRA tax incentives.

 

This information can be especially beneficial to small- to medium-sized businesses that don’t have the resources or in-house expertise to navigate IRA tax incentives but still wish to see the full range of benefits from EV adoption.

 

Learn more about the potential benefits of the Inflation Reduction Act: https://www.fordpro.com/en-us/inflation-reduction-act/

Disclosure(s)

1)

"Ford ProTM Fleet Manager Global Quantitative Study: Perceptions of Electric Vehicles January 2022." This quantitative study was fielded in the United States, United Kingdom and Germany among 1,250 corporate fleet decision-makers. The survey was conducted online in December 2021. PSB was hired by Ford Pro to conduct the survey. Results are not weighted.

2)

"EIA projects global conventional vehicle fleet will peak in 2038." EIA.gov. Oct. 26, 2021. https://www.eia.gov/todayinenergy/detail.php?id=50096#

3)

Please consult with your own tax or legal professional to determine eligibility, specific amount of incentives or rebates available. The federal tax credit is 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://www.afdc.energy.gov/laws/409.

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