Finance Minister Eric Girard announced the end of the subsidy program for the purchase of an electric vehicle by 2027. Here are some questions and answers about this program.
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Who is this grant for?
For people who want to purchase an electric vehicle worth $65,000 or less.
When will the maximum grant of $7,000 end?
December 31, 2024 at midnight. At this time, the electric vehicle will need to be paid for and delivered to the customer.
Subsequently, will consumers be able to continue to benefit from the same subsidy?
Yes. However, it will be less generous. In 2025, the amount will increase from $7,000 to $4,000. Then, in 2026, it will be reduced to $2000. In 2027, no provincial subsidies will be available.
Is the federal subsidy for electric vehicles maintained?
Currently, customers benefit from $5,000 on the purchase of an electric vehicle. For the moment, there is no indication that the program will be abolished in the coming years unless there is a change of government.
Are all electric vehicles eligible for this subsidy?
No. Not all versions of a model are automatically eligible for the program. It is a combination of make, model, version and year that is analyzed.