Gov. Gavin Newsom’s administration released a plan Monday for a $200 million electric vehicle incentive program that would require automakers to match state rebates for their models to be eligible.
What happened: The Department of Finance proposal — published in a budget trailer bill — would direct state air quality regulators to work directly with car manufacturers to establish a rebate program for first-time EV buyers. Significantly, the plan would require participating companies to match state investment dollar for dollar, effectively doubling the total available funding.
California Air Resources Board spokesperson Lindsay Buckley said in a statement Monday that the agency will finalize other program details, including incentive amounts for new and used vehicles, later this month.
“The Trump administration’s reckless retreat has created unprecedented uncertainty for automakers and families alike,” said Sarah Swig, Newsom’s senior climate adviser. “California is proud to partner with automakers who are committed to the transition to a zero-emission future through shared investment to keep costs down and drive the market forward.”
