Federal incentives are helping businesses buy a vehicle – here’s what you need to know

by | May 26, 2024 | Finance and Business

Trucks, cargo vans and other large vehicles are sometimes the most practical vehicles for businesses. But their size and weight mean they burn through a lot of gas or diesel. An electric truck eliminates those fuel costs, but the higher upfront cost of electric vehicles (EVs) can make it hard for many to make the switch.

The Incentives for Medium- and Heavy-Duty Zero-Emission Vehicles program offers businesses and organizations substantial rebates on the cost of buying or leasing electric commercial vehicles. The rebate applies to qualifying vans, trucks, coach buses, semi-trucks and other types of commercial vehicles.

If your company operates a fleet of vehicles, the business may be eligible for up to 10 of these incentives per calendar year, up to a maximum combined rebate of $1 million.

The rebate is applied at the point of sale by the dealer, and it can be combined with any other provincial or territorial electric vehicle rebates available where the business is located.

The Government of Canada has a list of hundreds of qualifying vehicles on the program’s website.

Find more information at canada.ca/medium-heavy-zero-emission-vehicles

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