It means you get paid back a portion of your purchase. In California, you pay in full first, then you submit applications to the government. They then pay back somewhere between 25%-50% of the cost. Without this, I don't think many people would buy EV vehicles given their cost.
Posted Using LeoFinance Beta
Oh okay got it , here it is called subsidy , only a few states in India are providing that for EV .
Here it works in a different way , the companies must claim it from the government and they sell the car to customer at discounted price itself .
Posted Using LeoFinance Beta
That is what it is, a subsidy to incentivize people to buy EVs.
There is both the state (some) and federal credit that people can use. California has an aggressive credit, probably the strongest in the country. I think, unless they changed it, the federal subsidy ran out when the manufacturer sold half a million EVs. Thus Tesla and GM dont qualify.
That might have been changed.
Posted Using LeoFinance Beta
Interesting . Here the central government has stepped in recently and hence they might start providing subsidies too and they have started building infrastructure now which is a good thing.
Posted Using LeoFinance Beta
Many dont feel that the EV industry should be subsidized. That it is just government trying to determine winners and losers.
Thus it gets to be a heated battle.
Posted Using LeoFinance Beta
Oh I see , here many want the government to provide subsidy because they are too expensive + it is needed for Indian climate . The air pollution here is terrible .
Posted Using LeoFinance Beta