Latest in Transportation

Image credit:

California may give EV buyers instant rebates

It’s a measure to encourage the purchase of electric cars as federal tax incentives phase out.
Swapna Krishna, @skrishna
June 28, 2017
Share
Tweet
Share

Sponsored Links

Nissan

If you're worried about the federal tax credit for electric car purchases phasing out, you may want to pay attention to what California is proposing. The state is concerned about demand for EVs declining as the tax incentives disappear. As a result, California is considering legislation that will give instant rebates to buyers of electric cars at the time of purchase.

A key component of this bill is that the rebate is instant, applied automatically when you purchase the vehicle. California currently has a mail-in EV rebate program for certain car models, but purchasers have to wait up to 90 days to receive their funds. It's possible that this wait makes people less likely to choose electric over gasoline power for their vehicle.

While it's not clear exactly how much each rebate would be, The California Electric Vehicle Initiative would be income based. The state is specifically concerned with helping low-income residents purchase EVs. Their goal is to bring the purchase price of electric cars down to their gasoline-powered equivalents. The bill currently proposes putting aside around $3 billion total for these incentives.

The legislation hasn't been passed yet; while it passed an assembly vote, it still needs to face two Senate committees. It's notable, though, because California is often a leader in emissions and car regulations for the rest of the country. If this becomes law in California, it's possible we could see other states following suit.

All products recommended by Engadget are selected by our editorial team, independent of our parent company. Some of our stories include affiliate links. If you buy something through one of these links, we may earn an affiliate commission.
Comment
Comments
Share
Tweet
Share

Popular on Engadget

Is there a good reason to buy the Apple Watch Series 5 ?

Is there a good reason to buy the Apple Watch Series 5 ?

View
NBCUniversal’s Peacock launches today: Here’s what you need to know

NBCUniversal’s Peacock launches today: Here’s what you need to know

View
Oppo's Evangelion phone is surprisingly faithful to the anime

Oppo's Evangelion phone is surprisingly faithful to the anime

View
The ultra-chill ‘Tetris Effect’ soundtrack is now available for streaming

The ultra-chill ‘Tetris Effect’ soundtrack is now available for streaming

View
Google offers a free Nest Mini to YouTube Premium subscribers

Google offers a free Nest Mini to YouTube Premium subscribers

View

From around the web

Page 1Page 1ear iconeye iconFill 23text filevr