The federal government is continuing its efforts to aid and encourage more Canadians to switch over to electric vehicles by topping up, once again, the Incentive for Zero-Emission Vehicles (iZEV) rebate program.
The announcement was made this week as part of the government’s Economic and Fiscal update 2021 report, which reads that $73 million will be added to the program, to “allow Transport Canada to continue offering purchase incentives for zero-emission vehicles until the end of March 2022.”
Originally launched in 2019, the government’s initial investment of $300 million was used up in 20 months. Last year, another $287 million was budgeted into the program, but by the end of October 2021, only around $48 million was left.
The investment of an additional $73 million is now taking the total funding of the iZEV program to almost $660 million since 2019.