General Motors (GM) has introduced a $7,500 incentive on its electric vehicles (EVs) following the loss of a U.S. government tax credit earlier this week. The move is in response to new battery sourcing requirements issued by the Treasury in December, aiming to reduce dependence on Chinese suppliers. GM’s Cadillac Lyriq and Chevy Blazer EVs temporarily lost eligibility, and the automaker plans to offer an equivalent EV tax credit purchase amount for affected vehicles until they regain eligibility in early 2024. Meanwhile, Ford Motor is adjusting prices for its F-150 Lightning, increasing the cost of some models by $2,000-$7,000 and reducing prices for premium models by $5,000. Ford is also offering a $7,500 cash incentive on 2023 Mach-Es leased through Ford Credit, supplementing the $7,500 tax break.
