EVs will save you money in the long run, but did you know there are financial incentives available from the very start of your EV journey? From rebates on the purchase of an EV and loan rebates to tax write-offs and rebates on chargers, find out which incentives you or your business could qualify for below.

Residential

Federal EV Incentive – Up to $5,000

Federal EV Incentive – Up to $5,000

The iZEV Program has officially paused. For more information visit The Government of Canada’s Questions and Answers.

The Incentives for Zero-Emission Vehicles (iZEV) Program provides point-of-sale incentives if you buy or lease a new eligible EV.

For more information and eligibility requirements, please visit iZEV Program.

Eco-Friendly Vehicle Loan Rebate – Up to $1,500

Eco-Friendly Vehicle Loan Rebate – Up to $1,500

The Newfoundland and Labrador Credit Union (NLCU) offers an Eco-Friendly Vehicle Loan Rebate. If you’re purchasing a hybrid or electric vehicle five years old or newer, you may qualify for a rebate of 2.5%, or if you have a chequing account and a direct deposit with NLCU, you may qualify for a 3% rebate. Rebates are provided to a maximum of $1,500.

For more information and eligibility requirements, please visit Eco-Friendly Vehicle Loan Rebate.

Business

Federal EV Incentives

Federal EV Incentives

  • The Incentives for Zero-Emission Vehicles (iZEV) Program  has officially paused. For more information visit The Government of Canada’s provides point-of-sale incentives if a business purchases or leases an eligible EV.
  • Alternately, a tax write-off is available for EVs to support business adoption. Businesses that take advantage of the federal incentive through the iZEV Program will not be able to take advantage of the tax write-off for EVs.

For more information on the tax write-off for EVs, businesses and self-employed individuals may contact the Canada Revenue Agency at 1-800-959-5525 or visit the Government of Canada’s website: Canada – Zero Emission Vehicles.