Canadian province Ontario offers a Green Commercial Vehicle Program that gives various tax credit incentives to companies buying fuel-saving, eco-friendly vehicles. Now, the province will offer a C$75,000 tax rebate to companies who purchase one of the new generation of electric trucks from Tesla (clickbait!), BYD, Cummins, or Volvo.
For those of you keeping score, that means the Canadian government will pick up nearly 60% of the tab for anyone who wants to buy one of the brand-new Tesla EVs. That’s a tremendous offer, but one that may not last long- the Program will fund just C$12 million in rebates for the fiscal year ending on March 31, 2018.
“Although there is no limit on the number of alternative fuel commercial motor vehicles or fuel saving devices that an applicant may apply for,” said a spokesperson for the Canadian Ministry of Transport, in an interview with AGN. “Payment of incentives will be subject to the availability of funds and GCVP policy objectives, which may change over time.”
The tax credit rebate is intended help achieve Ontario’s target in cutting greenhouse gas pollution- and companies like food retailer Loblaw and big box brand Walmart are sure to be taking advantage of the
subsidy incentives, soon. The province has set a goal to reach carbon levels 15 percent below 1990 levels by 2020, 37 percent below 1990 levels by 2030, and 80 percent below by 2050.