Federal EV Program Updated, Rebranded iZEV
A new program will provide financial incentives for the purchase or lease of new electric vehicles. The program, branded iZEV for zero-emission vehicle, will come into effect on May 1, 2019. Eligible vehicle types include battery-electric, plug-in hybrid electric, and hydrogen fuel cell. The incentive may be applied directly to the price of the vehicle at the dealership.
Eligible Vehicles:
Vehicles with six seats or fewer, where the base model MSRP is less than $45,000 (higher priced trims up to $55,000) are eligible.
Vehicles with six seats or fewer, where the base model MSRP is less than $55,000 (higher priced trims up to $60,000) are eligible.
Levels of incentive:
Battery-electric, hydrogen fuel cell, and longer range plug-in hybrid vehicles (battery capacity is 15kWh or more) are eligible for an incentive of $5,000
Shorter range plug-in hybrid electric vehicles (battery capacity is less than 15kWh) are eligible for an incentive of $2,500
Mitsubishi has announced a bridge program to help consumers who are taking delivery of a ZEV from that brand before the federal incentive kicks in on May 1st. Specifically a $2,500 dealer incentive program across the country on the model year 2018 Outlander PHEV models. Both the 2018 and 2019 Outlander PHEV are eligible for the new iZEV program.