Written by Cláudio Afonso | LinkedIn | X
New Jersey introduced a new $2,000 electric vehicle (EV) incentive on Tuesday, allowing income-qualifying residents to receive up to $4,000 towards the purchase or lease of an eligible EV.
The incentive is in addition to the federal tax credit of up to $7,500 for a new electric vehicle.
S&P Global Mobility data shows that new EV registrations in the U.S. surged by 18 per cent in July, reaching 118,273 units compared to 100,620 a year ago.
The new “Charge Up+” incentive, which launched on September 17, 2024, enables New Jersey residents who meet certain income criteria to prequalify and combine it with the existing $2,000 “Charge Up” incentive, doubling their savings to $4,000.
The Charge Up New Jersey program, aimed at promoting clean vehicle adoption, offers state residents up to $4,000 for purchasing or leasing a new eligible battery electric vehicle and an additional $250 rebate for purchasing an eligible EV charger.
The original $2,000 Charge Up incentive remains available to all eligible residents, regardless of income.
To qualify for the $2,000 Charge Up incentive, the newly purchased or leased vehicle must be registered with the New Jersey Motor Vehicle Commission for at least three years immediately following the transaction.
Under the program’s guidelines, each customer can receive a maximum of three electric vehicle incentives over the 10-year period the program is active.
Written by Cláudio Afonso | LinkedIn | X
