Prince Edward Island announces details of generous rebate program on new and used EVs

The Government of Price Edward Island revealed in their 2021-2022 provincial budget last week a new electric vehicle (EV) rebate program.

No details were provided at the time with the document only saying $500,000 would be put towards the program in the first year.

This morning more details have been announced, and it is one of the most generous rebate programs in the country. But there’s also one big catch that looks like it excludes new Tesla purchases.

Beginning this spring, residents of PEI will receive $5,000 off the purchase of a new EV, and $2,500 off a plug-in hybrid. In addition to the discount, buyers will also receive a free level 2 EV charger.

Combined with the federal iZEV rebate, EV buyers in PEI could get up to $10,000 off the purchase of a new EV.

“We know that one of the main hurdles for Islanders to switch to an electric vehicle is the high cost. With that in mind, we are launching an EV incentive in an effort to increase uptake and in return, reduce greenhouse gas emissions from our transportation sector – which represents nearly half of overall provincial emissions. This will help us get closer to our goal of Net Zero by 2040,” said Steven Myers, Minister of Environment, Energy and Climate Action.

Unfortunately it is not all good news for hopeful Tesla owners on the island. Despite using a Tesla Model 3 in the press release, the rebate only applies to purchases made from a local dealership.

“Vehicles must be purchased from an Island dealership to be eligible.”

With no Tesla location on the island, and no plans for one in the foreseeable future, that would mean the rebate would only be applicable to used Tesla purchases.

Fortunately there are stores that focus on used EV sales, like All EV Canada with a location in Charlottetown.

We have reached out to the Government for clarification and will update the story if we receive further information.

UPDATE: In an interview with Drive Tesla, Jill Edwards from the Department of Environment, Energy and Climate Action confirmed the rebate excludes new Tesla purchases.

Edwards added that they fully intend to include Tesla, and any other automaker that does not have a local dealership, but the government wanted to support local dealerships first. She hopes this will happen within the next 12 months.

Edwards also confirmed there are no price limits on the PEI EV incentives, unlike the iZEV rebate.

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