for Electric Vehicle Incentives
A favorable political environment is needed to support electric vehicle policies, and countries must be wealthy enough to afford subsidies. EV policy also needs to be clear and sustained to give consumers and automakers certainty.
The car industry is moving forward with new EV models, governments have set aggressive targets, and consumers are becoming more comfortable with the new technology, bringing about ideal conditions for electric cars to continue to thrive, even with low oil prices.
Even though financial incentives have long been essential in wooing consumers toward electric and hybrid vehicles, California is implementing its first-ever income cap on electric vehicle buyers receiving rebates. The state’s move, however, should not be a major setback in the further penetration of EVs.