Residents of Newfoundland and Labrador (NL) will soon be able to get $2,500 off their purchase of a new electric vehicle (EV).
In a technical briefing for the province’s Budget 2021 released last week, the province announced the creation of the ‘Electric Vehicle Adoption Accelerator’ program.
Details of the incentive are so far slim, but deputy premier and minister of finance Siobahn Coady said in her budget speech the provincial government will set aside $500,000 for the program.
“Switching from a gas-powered to an electric vehicle is becoming an increasingly real option for consumers. We are supporting efforts to make electric vehicles more accessible and as a result, a fast-charging network is being installed across the province. To build on this, $500,000 is being provided for an Electric Vehicle Adoption Accelerator Program. This will provide a $2,500 rebate to residents who purchase an electric vehicle.”
That means just 200 buyers will be able to take advantage of the program, unless more funds are committed at a later date. Although that number is small, it would more than double the current population of EVs in NL. According to data from takeCHARGE, there are just over 190 EV in the province (via Electric Autonomy).
The new rebate will be in addition to the federal iZEV rebate which provides up to $5,000 off the purchase of a qualifying zero-emission vehicle.
Newfoundland and Labrador now joins British Columbia, Quebec, Nova Scotia, and Prince Edward Island to offer their own EV incentives. The Yukon and Northwest Territories also offer rebates of up to $5,000 on new EVs.