Comparing three electric vehicle incentives in three countries
Considering an estimated one million battery electric vehicles and plug-in hybrids will be sold globally this year alone, it seems likely that they’re here to stay. Manufacturers are pouring resources into further development of the segment — Honda snuck in the Clarity plug-in before the New Year, and in 2018 there are several anticipated launches like the Jaguar I-PACE crossover and BMW X7 full-size SUV.
Governments around the world, facing pressure to lower emissions, have been onboard the electric bandwagon for quite a while now, some going as far as putting an expiry date on sales of gasoline-powered cars. As such, many, like the three places we’ve listed below, are serving up enticing incentives in the form of cash rebates to tempt consumers to switch over.
Turns out the Great White North is not a bad place to be for EV lovers. In B.C., the Clean Energy Vehicle Program means buyers can benefit from up to $5,000 off eligible models, which include favourites like the BMW i3, Hyundai IONIQ and Volkswagen e-Golf. In Quebec, it’s as much as $8,000 off a green set of wheels, and even people buying and installing home charging stations get a 50 per cent off break, to a maximum of $600. Those residing in Ontario receive a whopping total $14,000 discount on approved automobiles via the Electric Vehicle Incentive Program.
In the U.S. both federal and state governments offer financial assistance to lessen the blow of buying an EV that, particularly at full MSRP, can be quite prohibitive. The Internal Revenue Service provides a tax credit between $2,500 and $7,500 to lower the upfront purchase cost, the exact amount dependant on vehicle class and battery size. On top of that, certain states stack additional credits on top as well.
Through the plug-in car grant initiative introduced in 2011, our relatives in Europe can see 35 per cent of their EV price tag slashed, up to a £4,500 maximum, on the spot when purchasing an eligible auto. Similar to Quebec, a further grant of £500 was introduced in March for EV owners who install a dedicated charge point in the garage.