"US EV Tax Credits Set to Expire for GM and Ford Vehicles in 2022"

General Motors (GM) announced that its Cadillac Lyriq and Chevrolet Blazer EV will temporarily lose eligibility for the U.S. electric vehicle tax credit starting January 1, 2023. Only the Chevrolet Bolt EV will remain eligible for the consumer EV tax credit. Ford Motor also stated that its E-Transit, Mach-E, and Lincoln Aviator Grand Touring plug-in hybrid will lose the tax credit, while the F-150 EV Lighting and Lincoln Corsair Grand Touring will retain it. GM attributed the loss of credit to two minor components but expects the vehicles to regain eligibility in early 2024. The U.S. Treasury's new battery sourcing restrictions, effective January 1, aim to reduce reliance on China for the electric vehicle supply chain. Tesla's Model 3 Rear-Wheel Drive and Long Range vehicles will also lose federal tax credits starting January 1.