My First EV is California’s new EV rebate program offering rebates for first-time EV buyers for new and used EVs.
On Monday July 13th, California Governor Gavin Newsom announced My First EV, a rebate program that offers new EV buyers a $3,500 rebate on new EV purchases for vehicles worth $50,000 or less and $1,750 for used EVs sold for under $25,000.
The $270 million dollar program is financed equally between the State and participating EV manufacturers. Leasing EVs will also be cheaper in the near future according to the State.
The “My First EV” program in California comes one year after federal tax credits for EVs was canceled nationwide. Previously, American consumers could claim a $7,500 tax credit after buying a new EV or $4,000 for used EVs.
California's Instant Rebate Program
California’s instant rebate program does not yet have an official start date, but state officials will reveal next month which car brands are included, so EVs purchased today may not qualify.
The program will be open to California residents who are buying or leasing an EV for the first time and once state officials announce that the My First EV program has officially begun, buyers simply go to a dealership for a participating automaker.
My First EV discounts will only cover battery-electric cars and hydrogen fuel cell-powered vehicles from automakers participating in the program. State officials will confirm next month which car companies are included. Hybrid vehicles are not included.
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How Does California’s $3,500 EV Rebate Work? | KQED