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California's instant EV rebates are now available for these three brands
Los Angeles Times • • business
Key Points:
- California has launched the MyFirstEV program, offering a $3,500 instant rebate for first-time buyers of new electric vehicles (EVs) from Tesla, Hyundai, or Lucid, with $1,750 discounts available for used EVs.
- The program, backed by $135 million in state funds matched by automakers, aims to provide buyers with 4% to 7% savings and support California's EV adoption and air quality goals.
- Rebates apply only to new EVs priced at $50,000 or less and used EVs priced at $25,000 or less, with exceptions for California-based automakers regardless of vehicle price.
- Additional automakers, including Ford, Rivian, Chevrolet, Kia, Toyota, Honda, Subaru, and Mitsubishi, plan to join the rebate program in the coming months.
- The initiative follows the elimination of the $7,500 federal EV tax credit under the Trump administration and seeks to boost EV market growth amid reduced federal incentives.
