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Good morning! It’s Thursday, May 23, 2024, and this is The Morning Shift, your daily roundup of the top automotive headlines from around the world, in one place. Here are the important stories you need to know.
Also, Ford tells dealers to pause their electric vehicle investments, and Polestar kicks its first-quarter earnings report down the road.
Ford Motor Co. says it is cutting thousands of dollars off the US prices of its all-electric 2023 Mustang Mach-E SUV after the vehicle lost eligibility for the US government's tax credit. Ford's price reductions come after the Mach-E on January 1 was among the dozens of EVs that lost eligibility for the federal government's up-to $7,500 tax credit because of increased requirements under the Inflation Reduction Act concerning the origin of vehicle components and materials. Tesla had previously dr