New Brunswick Announces New Electric Vehicle Rebate Program
According to New Brunswick’s new electric vehicle rebate program, those who purchase or lease an EV from a dealer in the province will be eligible for up to $5,000 CAD from the New Brunswick Electric Vehicle Incentive Program, Tesla North reports.
The New Brunswick EV rebate program comes into effect starting today, July 8. The three-year program will be funded from the Climate Change Fund, approved annually. The current year of 2021 to 2022 is offering $1.95 million for the EV rebate program.
“This incentive program will help New Brunswickers purchase an electric vehicle and it will help us meet our target of 20,000 electric vehicles by 2030,’’ said Natural Resources and Energy Development Minister Mike Holland, in a statement. “This really is where the rubber meets the road.”
Below is the eligibility criteria for the New Brunswick EV rebate program:
- Buy or lease: qualifying battery electric vehicles and long-range plug-in hybrid electric vehicles may receive up to $5,000
- Buy or lease: new short-range plug-in hybrids may receive up to $2,500
- Buying used battery electric vehicles may receive up to $2,500
- Buying used plug-in hybrid electric vehicles may receive up to $1,000
The EV rebate program will be managed by NB Power and later this fall, dealers will be able to apply rebates directly to customers. The program can also be combined with the federal government’s Zero-Emission Vehicles (iZEV) program, allowing customers to get up to $10,000 CAD in combined rebates.