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Canada Spends 75% of its $300 Million EV Rebate Fund in Just 15 Months

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Thanks to the program’s extreme popularity, more than 75% of Canada’s $300 million electric vehicle (EV) rebate fund has already been spent in just 15 months, Tesla North is reporting. Initial projections for the program had expected three years total in funding so it will likely require new funding sources.

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For those who aren’t aware, the Liberal government had announced a $300 million rebate fund towards electric vehicle incentives in April last year, including an incentive of up to $5,000 for eligible plug-in hybrid vehicles. 

According to The National Post, the EV rebate program has so far paid over $225 million to 53,310 drivers, primarily in Quebec, British Columbia, and Ontario.

EV advocates out of Ottawa are also pushing the Canadian government to expand the rebate, citing the need for exponential growth of the EV market while on the cusp of climate change. The country’s target is to have 10% of all passenger vehicles be electric by 2025, and the program is the only way they’ll get there, advocates argue.

You can learn more about the federal government’s program on this page.

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