Ontario Electric Vehicle Incentive Program Gets Update

February 21st, 2016  |  Auto

Beginning February 10, people buying electric vehicles in Ontario can look forward to even more affordable electric vehicles with the updated Electric Vehicle Incentive Program.

The program was first put in place in 2010 to help eco-conscious drivers offset the higher initial cost of electric vehicles. The province’s new Climate Change Strategy seeks to reduce greenhouse gas pollution to 80 per cent below 1990 levels by 2050. The updated program will provide higher incentive to mainstream buyers, increasing the amount of money paid out while capping the benefit for those shelling out cash for luxury vehicles like a Tesla.

The government release has the full changes, listed here:

• “Increase the current incentive range for EVs from $5,000 - $8,500 to $6,000 - $10,000
• Provide an opportunity to receive an additional $3,000 incentive for vehicles with larger battery capacities
• Provide an additional $1,000 incentive for vehicles with five or more seats
• Continue to provide incentives linked to battery capacity of more than 5 kilowatt-hours
• Cap incentives for vehicles priced between $75,000 and $150,000 at $3,000
• Provide up to $1,000 for the purchase and installation of chargers for home and business use.”

The Ontario government seems to be doubling down on its commitment to electric vehicles after budgeting $20 million towards electric charging infrastructure last December.