The Canadian government has introduced several incentives to encourage citizens to purchase electric vehicles before the country’s upcoming ban on gas-powered cars, which is set to take place by 2035.
Canadian Government Introduces Incentives to Encourage Electric Car Purchases Before Gas-Powered Car Ban in 2035
The iZEV program, launched in 2019, offers incentives of up to $5,000 towards the purchase or lease of eligible zero-emission vehicles. The program has two tiers of incentives, with battery electric vehicles, hydrogen fuel cell vehicles, and longer-range plug-in hybrid electric vehicles eligible for the maximum incentive of $5,000, and shorter-range plug-in hybrid electric vehicles qualifying for $2,500.
Passenger cars must cost under $55,000 to be eligible. The iZEV program can be used alongside similar provincial and territorial incentives, including the Go Electric program in British Columbia, which offers rebates for plug-in hybrids and battery electric vehicles, and a rebate of up to $7,000 from the province of Quebec on the purchase or lease of a new electric vehicle.
Similar incentives are available in Newfoundland and Labrador, New Brunswick, Prince Edward Island, and Nova Scotia
The CAA has a tool available online that shows all public and private incentive programs available in each province and territory. With the upcoming ban on gas-powered cars, investing in an electric vehicle could be a smart move, and these incentives could save consumers thousands of dollars on a zero-emission car.
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