Canadians will be able to receive a $5,000 rebate on the Tesla Model 3 thanks to the federal government’s incentive for electric cars, while came into effect on May 1.
The incentive was introduced in the March federal budget. There are two types of rebates offered. Battery-electric, hydrogen fuel cell, and longer range plug-in hybrid vehicles are eligible for a $5,000 incentive. Shorter range plug-in vehicles are eligible for a $2,500 incentive.
The incentives apply to base model vehicles with six or fewer seats priced under $45,000 and for base model vehicles with seven or more seats priced at $55,000.
Higher priced versions (trims) of these vehicles — up to a maximum price of $55,000 –are also eligible.
In March, the base Tesla Model 3 was priced at $47,600, meaning it did not qualify for the rebate.
According to Tesla, the company has introduced a reduced-price Model 3 to $44,999 — making it one dollar cheaper than the eligible rebate price. The Model 3 Standard car has a range of 150 km.
The Tesla Model 3 Standard Range Plus (386 km range) is also eligible because it is priced at $53,700 and qualifies as a higher priced version under $55,000.
A full list of electric vehicles eligible for the government’s rebate program is available on Transport Canada’s website.