California creates $3,500 rebate for new electric vehicle buyers

Governor Gavin Newsom signed legislation creating a $270 million rebate program to support electric vehicle buyers. The initiative, part of the 2026-2027 budget, offers California residents a $3,500 rebate for qualifying new electric vehicles and a $1,750 rebate for used EVs. Both incentives are subject to price caps. Expected to launch later this summer, the program aims to maintain buyer interest in electric cars following the removal of federal incentives during an energy fight with Trump.