WASHINGTON— Ford Motor Co. is asking the federal government to limit what it dubs a "foreign entity of concern" in order to expand the number of vehicles qualifying for a new, more stringent $7,500 electric vehicle tax credit.
The automaker was responding to a request from the U.S. Department of Treasury on how it should implement the consumer tax credits passed through the Inflation Reduction Act in August.
The law tweaked an existing $7,500 income tax credit to be offered as a front-end discount and lifted a manufacturer cap that has prevented popular models like the Chevrolet Bolt or the Tesla Model Y from qualifying.
