California's new EV rebate program is underway, and now we know more about it.
Car companies will decide which trims and models qualify.
Some Teslas that cost over $50,000 will qualify, a government spokesperson said.
The $7,500 EV tax credit may have met a premature end last year, but first-time EV buyers in California can now get thousands off of an EV purchase thanks to an incentive program passed earlier this year. Now that the MyFirstEV program is kicking off, we know more about how exactly it works and which new and used EVs qualify.
For a couple of months now, we've known the basic contours of the program. It provides an up-front, $3,500 discount for purchases of new EVs, and $1,750 for used ones. New EVs must carry an MSRP of $50,000 or less, while secondhand cars can't go for more than $25,000. These caps don't apply to California-headquartered EV companies, so Lucid and Rivian are exempt. (All of their existing products start above the price cap, so the exemption ensures they will still benefit.) And buyers will have to fill out a form attesting to the fact that they haven't owned an EV before.
