China’s Ministry of Finance has confirmed that tax exemptions for New Energy Vehicles (NEVs) scheduled to expire at the end of this year have been extended through 2027. Consumers in China will now be able to take advantage of EV tax breaks amounting to over $4,000 per vehicle to start, which will dwindle down over the next four years.
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Canadians gather! If you’re looking to go electric, there is an expansive program at your disposal offering varying levels of incentives for EV purchases and leases in Canada. We’ve compiled everything you need to know below, alongside an ever-growing list of vehicles that qualify.
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After being originally introduced in 2021, yet faltering before the finish line, a federal incentive for electric bicycle purchases is back on the table. If it passes, Americans could receive a $1,500 tax credit for the purchase of an electric bike.
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California allocated $10 million for a rebate program to help make electric bikes more affordable. But hang on there; it’s not active quite yet.
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Electric bicycles are quickly proving to be one of the best ways to get drivers out of cars while still providing fast, efficient personal transportation. And rebate programs that help reduce the cost of expensive e-bikes are now making them more affordable than ever before.
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The European Union has asked the United States to include EVs, batteries, and other sustainable products sold on US soil in federal tax credits, similar to benefits it currently offers its North American neighbors. According to a recent report, the US and EU are in discussions about what’s possible.
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It may sound foreign to Americans, but being paid to cycle to work on a pedal bicycle or electric bike is common in many countries.
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Germany last week doubled its consumer subsidies of electric vehicles that cost up to €40,000. But a more powerful measure is in the works to help Germans transition to fuel-efficient vehicles: a high tax on vehicles that get less than about 28 miles per gallon.
Legislation in New Jersey passed critical committee votes today, making it likely to become law this week. It will make New Jersey one of the most generous states for EVs, as well as improve EV infrastructure for the millions of Americans who drive through the state.
A Republican-backed bill introduced in Georgia’s House of Representatives would reinstate a $2,500 state tax credit for the purchase or lease of new electric, zero emission, and plug-in hybrid electric vehicles.
Virginia lawmakers have put forward House Bill 469 which would allow for a 10% State tax refund on the purchase of an electric vehicle up to a $3500 maximum.
On May 26, 2016 – “U.S. Rep. Mike Honda (D-Silicon Valley, Calif.) introduced H.R. 5350, the bipartisan Energy Storage for Grid Resilience and Modernization Act. Honda was joined by Reps. Chris Gibson (R-NY), Tom Reed (R-NY) and Mark Takano (D-CA).” The purpose of the legislation is to clarify that energy storage industry receives a 30% tax credit equivalent in nature to what the Renewable Energy industry gets. The 30% Solar Power Tax Credit, is credited with being one of the major drivers for the solar power installation boom in the United States.
Tesla announced a new Build Plan for the Model 3 this week. According to Tesla CEO Elon Musk, it could result in the company manufacturing as many as 100,000 to 200,000 Model 3 vehicles during the second half of 2017, and around 500,000 cars in 2018 (Model 3, S and X). It’s a direct response to the storm of Model 3 reservations, now over 400,000, that Tesla received since unveiling the vehicle just over a month ago.
The ambitious plan would not only result in reservation holders getting the car sooner, but also in more (a lot more) American reservation holders having access to the $7,500 federal tax credit for electric vehicles.
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In an email sent out last night (see below), Tesla confirmed that following the overwhelming number of Model 3 reservations it received, the company is currently “increasing its production plans to minimize the wait for Model 3” – something Elon Musk hinted Tesla was looking into after witnessing the long lines of people waiting at Tesla’s stores to reserve the $35,000 long-range all-electric vehicle.
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The new budget bill approved by the US Congress last week included an important extension to the 30% investment tax credit (ITC) for solar, but it also brought back the less popular (but welcomed) tax credits for electric motorcycles.
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The long-awaited Tesla Model X, which will launch on September 29th, could become a very popular vehicle with American business owners, not just because of its signature ‘Falcon Wing’ doors or the ‘sculptural beauty‘ of its second row seats, but because it could actually be a great bargain despite of its $80,000 starting price.
Beyond the $7,500 federal tax credit offer at the purchase of electric vehicles and other tax incentives at the state level, the Model X’s weight and capacity could make it eligible to the $25,000 tax deduction for heavy vehicles under Section 179, also known as the ‘Hummer Tax Loophole’…
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