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article imageBuyers of electric trucks in Ontario can get up to $75,000 rebate

By Karen Graham     Dec 21, 2017 in Business
Ontario - Canada's most populous province, Ontario, is introducing a new electric truck rebate program that offers buyers rebates of up to 60 percent of the incremental purchase cost of an electric truck, compared with an equivalent diesel vehicle.
Ontario’s new Green Commercial Vehicle Program, which puts a cap of $75,000 per electric truck, also gives rebates on other fuel-saving vehicles, putting the province in line with Quebec as well as the states of California and New York in the U.S., according to Reuters Canada.
The rebates are contingent on funding and are being offered through a C$12 million fund, for the fiscal year ending on March 31, 2018, reports PlanetSave.
The rebate program has been lauded as a very sensible thing to do, according to EVObsession, which points out that most of the province's population and industries is confined to a fairly compact area and gets much of its electricity from hydropower.
BYD s Class 8 Garbage Truck.
BYD's Class 8 Garbage Truck.
BYD
The incentive program comes as Ontario is working to attract electric vehicle manufacturers and parts suppliers to the automaking province. In recent years, Ontario has lost out to places with lower-cost jurisdictions, like Mexico and the southern United States.
However, Ontario has a good reason to look forward to the coming New Year. Last month, BYD Co, the Chinese electric-vehicle maker backed by billionaire Warren Buffett, announced plans to open its first assembly plant in Ontario in 2019. Initially, about 40 employees will be hired, and the company plans to manufacture 900 trucks over a span of five years.
BYD's move comes as countries shift to electric vehicles to combat climate change. Ontario has set the target of cutting greenhouse gas pollution to 15 percent below 1990 levels by 2020, 37 percent by 2030 and 80 percent by 2050. Turning to the use of electric vehicles is expected to help reach that goal.
More about Ontario, electric trucks, BYD, Tesla, green commerce