Financial incentives for buying electric vehicles return Monday, February 16.
The Electric Vehicle Affordability Program offers Canadian consumers and businesses incentives to buy or lease eligible vehicle models with a final transaction value up to and including $50,000.
There will be no limit to the transaction value for Canadian made EVs.
Only EVs that are manufactured in Canada or in the countries with which Canada has existing free-trade agreements are eligible for the Program.
Incentives will start at:
- up to $5,000 for battery-electric and fuel cell electric vehicles
- up to $2,500 for plug-in hybrid vehicles
Transport Minister Steve MacKinnon says, “These will be point-of-sale incentives built into the transaction through a dealership. That will make these incentives easier to access with less paperwork or process.”
To qualify for the full $5,000 rebate, a vehicle must be powered solely by an onboard battery.
Up to $2,500 is available for purchasing a plug-in hybrid electric vehicle
Earlier this month, Prime Minister Mark Carney announced his government would spend 1.5-billion dollars on E-V infrastructure in Canada as part of a suite of changes to the federal auto strategy.
That announcement included the return of the E-V rebate program, which was paused early last year, and the end of the E-V sales mandate in favour of stricter emissions standards.
Ottawa will also spend 84-million dollars to add eight thousand electric vehicle chargers across the country, adding to Canada’s existing stock of more than 30-thousand chargers.
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