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

In a plan announced by Ford CEO Jim Farley in Las Vegas, the automaker said it will share Lincoln chain of 650 stores into two camps based on the size of their market. Those dealerships in 130 top markets will need to spend about $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 smaller markets must shell out $500,000 for one DC charger and four Level 2 chargers. Those dealerships that have made all the necessary investments will be allowed to sell an unlimited number of electric cars, Car news reports.

Read also: Lincoln has no plans to buy out dealers unwilling to switch to EVs

Lincoln’s director of North America, Michael Sprague, confirmed that dealerships can choose whether or not to agree, and that the automaker will not follow Cadillac’s steps and Buick is offering a buyout for those dealers who do not want to make the necessary investment.

“We have to continue to evolve,” Sprague said. “We have to make sure that over the next few years, as we prepare for the future of electric vehicles, that we’re ready when those customers start coming into the market. It’s time for us to change the way we go to market. Our retailers are a strategic asset in all of this.”

Lincoln dealers have until Dec. 15 to commit to an investment that will allow them to sell electric vehicles from late 2024 through 2026. A second sign-up period will begin in late 2026 and run into 2027.

Lincoln of Wayne, New Jersey general manager Peter Spina Jr. said he would make the investment.

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

https://www.carscoops.com/2022/10/lincoln-dealers-will-have-to-invest-up-to-900000-to-support-evs/