Will financial support help to increase the amount of EVs on California’s roads? Image source: Shutterstock (#570020842) pictures San Francisco.
A bill to boost electric vehicles in California that passed the California Assembly recently is now further supported through the financial backing of the California Electric Vehicle Initiative (CEVI) it would establish. The funds amounting to $3 billion will go into an ambitious program to stimulate purchases of electric vehicles.
At the point of sale, car dealerships will provide rebates to buyers of EVs, with the rebate value going down as state EV sales hit predetermined milestones. The goal is 1.5 million EVs, at which point the rebates will stop. “We need a more robust incentive program to jump-start the market so that everyone can get behind the wheel of an electric vehicle,” said Assemblymember Phil Ting.
The rebates are also tailored to the income of customers, with low‐income buyers eligible for higher amounts.
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