B.C. lowers rebate cap on electric vehicles, triggers industry backlash

  • 📰 timescolonist
  • ⏱ Reading Time:
  • 45 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 21%
  • Publisher: 75%

Business News News

Business Business Latest News,Business Business Headlines

On Tuesday, B.C.'s $4,000 rebate for vehicles deemed electric 'cars' was restricted to models that cost $50,000 or less — a $5,000 reduction from the previous cap.

The heads of major Canadian automobile industry associations slammed the B.C. government Tuesday over what they claim was a unilateral decision to cut about 75 per cent electric and hybrid models from its rebate program.

“With electric vehicle sales increasing faster than anticipated and currently at record levels, we needed to make adjustments to our CleanBC electric vehicle rebate program given available funding,” said the minister. “This came as a complete surprise to industry,” said Kingston in a call from Ottawa. “B.C. has established the most aggressive ZEV sales in North America and now it is pulling back” in a move that “all but guarantees the government’s mandated targets will not be met.”

In her statement, Minister Osborne said there are still more than 70 vehicle trims eligible under the government rebate program. She said “larger category” vehicles like pickup trucks and vans can still receive rebates if they don’t exceed a manufacturer suggested retail price of $70,000. Osborne also said the province expects more models to be available as manufacturers lower prices.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 15. in BUSİNESS
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Biden, G-7 Leaders Agree to Finance Ukraine With $50 Billion LoanPresident Biden and G-7 leaders agreed to finance Ukraine with a loan backed by profits on frozen Russian assets. Biden also signed a long-term security...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »