Ford is offering a $1,500 rebate to Tesla drivers to switch

• Ford offers Tesla owners special discounts on its electric F-150 and Mustang Mach-E.
• The discount is reportedly called the “Tesla Competitive Victory Bonus Fund.”
• This move comes as Ford is reportedly facing challenges in offloading its electric vehicles.

Ford aims Tesla.

The automaker launched a program earlier this month to offer Tesla owners special discounts on some of its vehicles.

Ford is offering Tesla owners who buy an electric F-150 or Mustang Mach-E an additional $1,500 off.

Ford Authority was the first to report the discount. A spokesperson from the company confirmed the incentive and told Business Insider the program launched on April 3.

People who choose to use the rebate don’t have to trade in their Tesla, just prove they own one, source he told Yahoo! Finance. The post said the discount is called “Tesla Victory Bonus Cash” and will be available until July 8.

Separately, Ford cut prices on some of its F-150 Lightning trucks on Thursday, according to reports from CNBC. The publication said Ford cut its prices by between $2,000 and $5,500, depending on the car’s trim level.

The 2024 models of the vehicles are currently priced from $54,995 and $39,995, respectively. Tesla’s cheapest car, the Model 3, starts at $38,990, while its Cybertruck electric pickup truck starts at $60,990.

Ford has faced pressure from Sharp price cuts for Tesla more than the previous year.

There have also been signs that the automaker has been struggling to unload its electric vehicles. Last year, BI reported Mustang Mache-E SUVs were piling on seller lots. Ford too postponed approximately $12 billion in planned spending on its EV venture in 2023.

In December, Ford announced reduce production of its electric pickup truck, the F-150 Electric. In February, the company halted deliveries of the F-150 Lightning due to an undisclosed quality issue. And on Thursday, the company resumed shipments, according to CNBC.