California Offers $3,500 Rebate To First-Time EV Buyers
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California Governor Gavin Newsom signed legislation on July 13 creating state rebates of $3,500 for first-time buyers of new electric vehicles and $1,750 for eligible used EV purchases, establishing a $270 million program funded by the state budget and automakers and targeting vehicles below specified price caps.
The move follows reporting that the federal $7,500 EV tax credit was eliminated last year; the state program applies to new vehicles with suggested retail price up to $50,000 and used EVs up to $25,000, is restricted to California residents, and is scheduled to begin later this summer with implementation steps to follow.
More context
Timeline
- 1. Federal EV tax credit reported eliminated last year, reducing federal incentives.
- 2. National EV sales showed signs of slowing, heightening policy concern.
- 3. California legislators advanced a rebate bill to address declining sales.
- 4. Governor Gavin Newsom signed the bill on July 13, creating state rebates.
- 5. The $270 million program, funded by state budget and automakers, is set to start later this summer.
Why it matters
If you're a California resident considering an electric vehicle (EV), this could be your chance. With rebates of up to $3,500 for new EVs and $1,750 for used ones, your dream car might be more affordable. Just make sure your choice falls within the price caps: $50,000 for new, $25,000 for used.
Sources
JQJO Editorial Desk · Human reviewed · AI assisted. Report a correction.
