Lincoln Dealers Will Have To Invest Up To $900,000 To Support EVs

Lincoln says its U.S. dealerships will need to invest up to $900,000 each in order to sell the company’s planned electric vehicles.

In a plan announced by Ford chief executive Jim Farley in Las Vegas, the car manufacturer said that it will divide the Lincoln network of 650 stores into two camps depending on the size of their market. Those dealerships in the top 130 markets will need to spend approximately $900,000 to install two DC fast chargers and seven Level 2 chargers. There are approximately 252 stores in these markets.

Meanwhile, the remaining 400 stores in small markets must cough up $500,000 for one DC charger and four Level 2 chargers. Those dealerships that make all of the required investments will be allowed to sell an unlimited number of EVs, Auto News reports.

Read Also: Lincoln Has No Plan To Buyout Dealers Not Wanting To Make EV Switch

North American director of Lincoln, Michael Sprague, has confirmed that dealerships can choose whether or not they opt in and that the carmaker won’t following moves by Cadillac and Buick in offering buyouts for those dealers not willing to make the necessary investments.

“We’ve got to keep evolving,” Sprague said. “We need to make sure over the next couple of years, as we’re preparing for that EV future, that we’re ready when those clients start to come into the market. It’s time for us to make changes in terms of how we go to market. Our retailers are a strategic advantage in all this.”

Lincoln dealers have until December 15 to commit to making the investments that will make them eligible to sell EVs from late 2024 until 2026. A second enrollment period will open towards the end of 2026 and commence in 2027.

General manager at Lincoln of Wayne in New Jersey, Peter Spina Jr., said he will be making the investments.

“These vehicles are coming, our industry is changing,” he said. “If you’re going to stay the course in the automotive space, you’ll be investing in some sort of EV infrastructure. You need to have the ability to service your guests and your own vehicles. I don’t think there are many engaged dealers who would say it’s not a necessity.”