Ford Gets $55 Million EV Tax Credit

 

Ford Motor Company announced today that they received a $55 million Michigan state tax incentive for work on battery and EV development. The refundable tax credit was awarded through the Michigan Economic Development Corporation (MEDC) and their new Michigan Advanced Battery Credits initiative.

Ford says the tax incentive will be used to accelerate production of next-generation hybrids, plug-in hybrid electric vehicles and battery electric vehicles. Current production timelines have the goals of a full battery electric commercial van in 2010, full battery electric passenger car in 2011, and a plug-in hybrid by 2012.

“These promising technologies give us the opportunity to transform our transportation and energy future,” said Nancy Gioia, director, Sustainable Mobility Technologies and Hybrid Vehicle Programs. “Government support is essential to achieving the potential for electrified vehicles in the future. Michigan’s groundbreaking program accelerates our ability to expand and focus our engineering and research efforts here.”





 
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Comment (1)
  1. "Noel Park"

    Uh oh! Hey GM:
    "Lead, follow, or get out of the way".
    BTW, no wonder you aren't getting very many comments, the "Captcha" feature is a nightmare.
     
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