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Newsom signs SB 168: Creating instant rebates for EV buyers
KCRA • • business
Key Points:
- California Governor Gavin Newsom signed SB 168, establishing a new zero-emission vehicle (ZEV) instant rebate program aimed at encouraging first-time electric vehicle (EV) buyers.
- The program allocates $135.5 million and requires automakers to match the funds dollar-for-dollar, providing instant rebates of $3,500 for new EVs priced up to $50,000 and $1,750 for used EVs priced up to $25,000.
- The initiative is designed to make EV ownership more affordable for families, promoting cleaner air and supporting California’s leadership in clean transportation.
- This state-level effort follows the federal government’s elimination of the EV tax credit under the recent tax overhaul signed by President Trump, highlighting ongoing tensions between Governor Newsom and the Trump administration on environmental policy.
