California Governor Announces $3,500 Rebate for New Electric Vehicle Purchasers
California Governor Gavin Newsom has unveiled a $271 million incentive program aimed at boosting the adoption of zero-emission vehicles (ZEVs) in the state. The program offers a $3,500 instant rebate for residents purchasing or leasing their first new ZEV, while those opting for a used ZEV can receive a $1,750 rebate. The initiative, known as the MyFirstEV program, is designed to accelerate the deployment of ZEVs, strengthen the market, and support U.S. auto innovation. The program is funded by a $135.5 million state investment, matched by participating automakers, including Tesla, Hyundai, and Lucid. The program also includes a Manufacturer’s Suggested Retail Price cap of $50,000 for new vehicles and a $25,000 cap for used vehicles, with exemptions for California-based manufacturers producing only ZEVs.