California creates $3,500 rebate for new electric vehicle buyers
Summary
California has started a new rebate program to help people buy electric vehicles (EVs). The program gives up to $3,500 off for new EV buyers and $1,750 for used EV buyers, with certain price limits and conditions.Key Facts
- The federal EV tax credit ended last September after President Trump and congressional Republicans removed it.
- The federal credit used to offer up to $7,500 for buyers who met certain income and price limits.
- California’s new MyFirstEV program offers a $3,500 rebate for first-time EV buyers on new EVs priced under $50,000.
- It also offers a $1,750 rebate on used EVs priced under $25,000.
- The state budget allocates $135.5 million to this program, and automakers will add another $135.5 million.
- California-based EV makers like Rivian and Lucid are exempt from the $50,000 price cap on rebates.
- Tesla, now headquartered in Texas, is only eligible for rebates on new EVs under $50,000 despite being founded in California.
- The program’s list of participating automakers has not been released yet.
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