WASHINGTON, (Reuters) – California Governor Gavin Newsom signed legislation on Monday creating state rebates of $3,500 on new electric vehicles for first-time buyers later this summer as U.S. sales have slowed.
The $270 million rebate program for California residents is funded by the state budget and automakers. It applies to new vehicles with a suggested retail price of up to $50,000. It also includes a separate $1,750 rebate for used EVs costing up to $25,000. Continue reading “California offering $3,500 EV rebates to first-time buyers”