iZEV EV Incentives Program Expanded to Include more – and More Expensive – Zero-Emissions Vehicles
It was expected and the news came this Friday: The Canadian government announced adjustments to its iZEV incentives program for electric vehicles, and chief among them is the raising of the price ceiling that qualifies new EVs for a discount.
Larger zero-emissions vehicles now can be eligible for the discount with a higher threshold. That is set at $60,000 for the base price and $70,000 for the highest-priced trims.Another change is that plug-in hybrid models, previously eligible for a $2,500 discount based on the capacity of their battery pack, will be eligible for the $5,000 discount as well, but on condition that the electric range they deliver is greater than 50 km. Otherwise, the discount drops back to $2,500.
By raising the thresholds, the government is ensuring more EVs are eligible, but we can expect to see the price of some models currently sold under $45,000 rise significantly over the next few years.
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