Federal government expands rebate program for electric cars
The maximum price of an electric car has been increased, with the purchase of which you can get a discount from the budget.
The rebate program began in 2019. Buyers of electric cars worth up to $55,000 CAD saved $5,000 CAD, and buyers of hybrid cars received a $2,500 CAD discount. More than 140,000 electric and hybrid vehicles have been sold at a discount since the program's inception.
Beginning April 25, 2022, the program will extend to larger vehicles: minivans, SUVs and trucks. Buyers of electric cars up to $65,000 CAD and larger models up to $70,000 CAD will get a $5,000 CAD discount. The discount will also increase to $5,000 CAD for hybrid vehicles with an electric range of at least 50 miles.
By the end of 2026, the federal government wants to ensure that one in five new cars in Canada is electric or hybrid. So far, $1.7 billion CAD has been allocated to continue and expand the rebate program.
