Governor Gavin Newsom signs legislation to provide instant electric vehicle rebates for first-time buyers in California

Governor Gavin Newsom signed SB 168 to launch the "MyFirstEV" program, providing instant rebates for residents purchasing their first zero-emission vehicle. The initiative offers a $3,500 discount on new electric vehicles priced under $50,000 and a $1,750 discount on used models priced under $25,000. The program is funded by a $135.5 million state investment, which participating automakers will match dollar-for-dollar, creating a total savings pool of approximately $270 million. While the federal government eliminated the $7,500 tax credit for electric vehicles, the administration announced that California will step in to maintain momentum for the clean-car industry. Thirteen major automakers, including Ford, Tesla, and Toyota, have committed to the program. A specific exemption allows California-headquartered manufacturers, such as Rivian and Lucid, to qualify for rebates regardless of price caps. The rebates will be applied at the point of sale, allowing buyers to see immediate savings at the dealership. The program is expected to launch later this year.

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