The condition does not apply to Tesla.
The Canadian government’s new program iZEV will give Canadians up to C$5K to buy zero-emission vehicles in order to fight climate change.
iZEV is effective May 1, 2019. The federal government allows its citizens to get a rebate for purchasing or renting zero-emission vehicles (ZEVs). It will make hybrid and electric cars more affordable as they typically cost more than gas-fueled models.
The Canadian government has announced that “transportation is the second largest source of greenhouse gas (GHG) emissions in Canada. This accounts for a quarter of Canada’s total GHG emissions and almost half of those emissions come from cars and light trucks”. One way to reduce the amount of GHG is to increase the number of zero-emission vehicles on the road.
Depending on the car model, Canadians will be able to get up to C$2.5K or to C$5K, if they buy or rent an eligible zero-emission car for at least 4 years. Shorter lease terms mean a lower rebate. These should be brand new cars since the incentive does not include second-hand vehicles.
Among the cars that could be purchased or rented using the state incentive are:
- The 2019 Chevrolet Volt
- The 2019 Hyundai Kona Electric
- The 2018 or 2019 Nissan Leaf
- The 2019 Toyota Prius Prime
Unfortunately, Tesla is not included in the list as its retail price currently surpasses C$45K.
Canadians are able to receive a rebate for only one zero-emission model per year. But the good news is that the iZEV initiative will be applied alongside existing provincial rebates. For instance, British Columbia already offers a rebate up to C$5K for the buyers of electric cars, and that means that starting on May 1, it will be possible to get C$10K in total to buy a new ZEV. In Quebec, the total rebate amount is even greater — up to C$13K since the provincial government currently offers C$8K.