"Gov. Gavin Newsom's state budget proposal includes setting aside $200 million to revive California's rebate program for the sale of electric vehicles, on the heels of the U.S. Congress and the Trump administration eliminating federal tax credits for EVs. Details including how much buyers would receive still have to be worked out and the proposal would need to pass through the California Legislature before going into effect."
"Ivan Drury, senior manager of auto insights at Edmunds.com, said a new rebate program will help boost sales. Anytime you can start putting more money behind selling something that's very expensive and has a lot of barriers to entry that go beyond just price, then you can help tip the scales in favor of a purchase versus (a consumer) not considering something at all, he said."
"For more than a decade, the California Air Resources Board oversaw the Clean Vehicle Rebate Project that offered thousands of dollars to buyers of EVs, plug-in hybrids and hydrogen fuel-cell vehicles. The rebates ended in late 2023, with Road & Track magazine citing lack of funding due to a combination of surging EV adoption rates and a drop in gas tax revenue that threatened state road repair funds."
Governor Gavin Newsom proposed allocating $200 million to revive California's rebate program for electric-vehicle sales after federal tax credits were eliminated. Details on rebate amounts and eligibility remain to be determined and the proposal requires approval by the California Legislature. The proposal frames incentives as critical to keeping zero-emission vehicles affordable and accessible. Ivan Drury of Edmunds.com said additional rebates can help boost EV sales but the extent of sales improvement will depend on eligibility stipulations. The previous Clean Vehicle Rebate Project ended in late 2023 due to funding shortfalls and offered up to $7,500 for low- and moderate-income buyers in its final year.
Read at www.sandiegouniontribune.com
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