California's MyFirstEV rebate program appears to have had a hot start, thanks to Tesla.
The program allocated $135.5 million in EV purchase or lease incentives, which automakers agreed to match.
Buyers have already gobbled up Tesla's share of the incentives.
Tesla has already run through its share of incentives under California’s latest MyFirstEV rebate program, just days after the rebates became available. In what’s supposed to be an year of EV demand reset in the U.S. due to the Trump administration’s unfavorable policies, it's a rare showcase of robust demand, even though California has historically led the country in EV adoption.
The state created a one-time $135.5 million fund for the program, which automakers are matching dollar-for-dollar, to lower the upfront cost of EVs for first-time buyers. The program is designed to partially offset the $7,500 federal EV tax credit, which expired last year.
