First time electric vehicle buyers in California can now snag a $3,500 instant rebate on new EVs made by Tesla, Hyundai or Lucid.
Gov. Gavin Newsom announced Friday that funds are available for the state’s EV incentive program, which he finalized in his state budget last month.
The program allocates $135 million to provide incentives, with participating automakers matching the funds. Used EV’s come with a $1,750 discount for first time buyers.
The rebates will mean that most eligible buyers will effectively get between 4% and 7% of their money back.
Additional automakers are preparing to launch discounts soon, including Ford, Rivian, Chevrolet and Kia later this month; Toyota, Honda and Subaru in September; and Mitsubishi in November. Nissan and Volvo are still determining their rebate timelines.
The rebates come about a year after President Trump eliminated a $7,500 federal tax incentive for new EVs. The EV market has slowed down as Trump has taken aim at several incentives and requirements, with multiple major automakers paring back their EV offerings.
California’s new incentives can’t be used on all electric vehicles — they apply only to new EVs with a manufacturer’s suggested retail price of $50,000 or less, and used EVs with a sale price of $25,000 or less. The rebates are only available to first time EV buyers.
Senate Bill 168 says the buyer’s eligibility will be “confirmed by a buyer attestation” that they have not previously owned a zero-emission vehicle.
The incentives are intended to help California reach its electric vehicle and air quality goals.
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