California EV incentive is getting smaller in November – EV Updates 2022

California EV incentive is getting smaller in November – EV Updates 2022

California EV incentive is getting smaller in November – EV Updates 2022

The California incentive for plug-in cars is set to be halved.

From November 2, the California Clean Fuel Reward (CCFR) for electric cars and plug-in hybrids will range from $ 1,500 to $ 750. The project, as mentioned recently Cars Direct, If the buyer wants to receive a large sum, the eligible vehicle must be delivered by November 1st.

Launched in November 2020, CCFR is a point-of-sale discount, so it will be used immediately. This is different from a separate California Clean Vehicle Discount Plan (CVRP), which requires a separate application after the vehicle has been purchased or leased.

CCFR has no income and purchase price limits for CVRP and offers the same amount for both electric cars and plug-in hybrids. That means it is theoretically possible to get the same discount as the Bentley Pentecostal Hybrid Nissan Leaf. Cars Direct Pointed out.

2021 Nissan Leaf SL Plus

2021 Nissan Leaf SL Plus

Since the CVRP ran out of money from time to time, which led to the waiting list, it is not known if that was the reason for the CCFR reduction. The project’s website states, “While continuing to support the EV industry, this is a natural change to ensure the sustainability of the project.”

California plans to phase out sales of new in-combustion light vehicles by 2035, and incentives may continue to play a role in softening that change.

Meanwhile, several federal concessions on EVs, including renewed and expanded EV tax credit, are under discussion.

This leads to the question: Should you buy now or wait for an extended EV tax credit?

electric vehicles updates India

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California EV incentive is getting smaller in November – EV Updates 2022

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