Incentives for Buying an Electric Vehicle

Are you considering an EV (electric vehicle) for your next vehicle purchase? Considering that transportation is the second-largest source of greenhouse gas emissions in Canada, going electric is on the minds of those concerned about our environment. And, nearly half of greenhouse gas emissions come from cars and light trucks.

The Government of Canada is now offering incentives to purchase what they are calling “Zero-emission vehicles”, or ZEVs, for short. Their definition of a ZEV is, “a vehicle that has the potential to produce no tailpipe emissions. These vehicles can still have a conventional internal combustion engine, but must also be able to operate without using it.” The Government of Canada considers the following vehicles to be ZEVs:

• battery-electric

• plug-in hybrid electric

• hydrogen fuel cell

In May 2019, the Government of Canada launched the Incentives for Zero-Emmission Vehicles (iZEV) that provides consumers with iZEV Program Incentives, for purchase or lease, of up to $5000. For more information on this incentive program, please visit https://tc.canada.ca/en/road-transportation/innovative-technologies/zero-emission-vehicles. There is criteria to determine eligibility such as how many passenger the vehicle seats, price, etc.

Currently, the Ford Escape Plug-in Hybrid is the only ZEV available from Ford that is eligible for the program because of the price cap. The Ford Mustang Mach-E does not qualitiy because it is over the price cap. However, we expect more Ford EV models will be eligible in the future.