CEV for BC rebate fund gets topped up after provincial election

The Clean Energy Vehicles for British Columbia (CEVforBC) incentive program has been topped up as after the provincial election held in October.

Last month Drive Tesla reported the fund had just $1.7M remaining in its bank account. While that may sound like a lot, it meant less than 600 EV buyers would be able to claim the rebate before it hit zero.

There was a bit of a question mark as to whether more money would be added due to a provincial election last month. On October 25, 2020 the NDP won a majority government, making the prospect of fresh funds a little more likely.

The good news is that as of yesterday, November 2 2020, the CEV for BC program is now flush with cash, sitting at nearly $6,000,000.

CEV fund Nov 3 2020

Tesla announced the refreshed Model 3 last month, and the first deliveries in Vancouver are not expected until late November or early December. With the fund nearing empty, there was a risk some owners might have to pay $3,000 more than they expected for their Standard Range Plus (SR+) Model 3.

The CEV for BC rebate is a point of sale incentive on the purchase of qualifying battery electric and plug-in hybrid vehicles. Currently only the Tesla Model 3 SR+ (and Standard Range, but we don’t recommend it) with a starting price under the $55,000 limit, qualifies for the $3,000 rebate.

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