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.
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.