California governor proposes $200 million in new state EV tax rebates
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California Governor Gavin Newsom has proposed $200 million in new state electric vehicle (EV) tax rebates following the end of a federal $7,500 tax deduction for new EVs. The proposal aims to revive sales after a significant drop in the last quarter of 2024. The California Air Resources Board has yet to determine the rebate amount per vehicle. Automakers are facing challenges, with Stellantis halting sales of certain models and General Motors taking a $6 billion charge to adjust its EV investments. Recent federal regulations have also impacted EV sales incentives.
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