The Government of Prince Edward Island (PEI) has announced some changes to its electric vehicle (EV) rebate program that now makes new Tesla vehicles eligible for the rebate. The price limit for used EVs has also been increased, and both changes are retroactive to January 1, 2023.
The PEI EV rebate program began in early 2021, providing residents with $5,000 off a new or used EV or $2,500 off a plug-in hybrid. There was a catch however as only EVs or hybrids purchased from a local dealership were eligible. Since Tesla has no local presence on PEI that left the most popular EV in Canada, the Tesla Model 3 Rear-Wheel Drive (RWD) out of the rebate program.
At the time a spokesperson told Drive Tesla the government wanted to support local businesses first and that they planned to expand to include other automakers that do not have a local dealership at a later date.
That change has now been implemented and EVs purchased at off-island dealerships are eligible for PEI’s Universal Electric Vehicle Incentive, according to a press release from the government. Although this change was only announced late last week, it is retroactive to January 1, 2023. All vehicles that are eligible for the federal iZEV incentive also qualify for PEI’s rebate.
Along with the inclusion of EVs purchased off-island, PEI has also increased the price limit of eligible used EVs from $55,000 to $70,000. This change is also retroactive to January 1, 2023.
This means if you have purchased an EV at an off-island dealership or a used EV priced under $70,000 since January 1, you can now apply for a $5,000 rebate.
For more information on the incentive, and how to apply, visit this page on the Prince Edward Island website.