Funding to come from the state's cap and trade program.
Rebate is at the point of sale, similar to mtg cash discount. The amount of rebate appears to be an attempt to make the EV cost about the same as a comparable ICE powered car.
Calif supports mfgs who took the initial risk to bring EVs to market like Tesla, Nissan and GM by having the state make up for the loss of the Federal Tax Credit as sales go over the 200,000 break point.
Not mentioned in the article but discussed elsewhere is making the amount of rebate tied to income level so EVs can become more affordable for people in the lower income levels. The state has asked VW to install a higher than average proportion of chargers in low income areas to support this initiative.
Rebate is at the point of sale, similar to mtg cash discount. The amount of rebate appears to be an attempt to make the EV cost about the same as a comparable ICE powered car.
Calif supports mfgs who took the initial risk to bring EVs to market like Tesla, Nissan and GM by having the state make up for the loss of the Federal Tax Credit as sales go over the 200,000 break point.
Not mentioned in the article but discussed elsewhere is making the amount of rebate tied to income level so EVs can become more affordable for people in the lower income levels. The state has asked VW to install a higher than average proportion of chargers in low income areas to support this initiative.
