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All New Jersey residents who purchase or lease, and register an eligible electric vehicle, in the State of New Jersey are eligible for the incentive.
No. Vehicles must be ordered, purchased or leased after 07/12/2023, the launch of the point-of-sale program, through participating dealerships to be eligible for the incentive.
The incentive amount equals $25 per mile of EPA-rated all-electric range, up to a maximum of $4,000 per eligible vehicle.
|MSRP||Incentive Calculation||Maximum Incentive|
|Under $45,000||All-electric mileage x $25||$4,000|
|$45,000 - $55,000||All-electric mileage x $25||$1,500|
Incentive Calculation Example
The 2021 Toyota Prius Prime Plug-In has 25 EPA-rated all-electric miles of range.
($25) x (25 EPA-rated all-electric miles) = $625 Incentive
The 2021 Hyundai Kona Electric is a BEV with 258 miles of EPA-rated all-electric range and an MSRP below $45,000. This incentive tier has a maximum of $4,000. Therefore, the 2021 Kona EV would be eligible for a $4,000 incentive.
The 2021 BMW i3 is a BEV with 153 miles of EPA-rated all-electric range, but the MSRP is above $45,000. This incentive tier has a maximum of $1,500. Therefore, the 2021 BMW i3 would be eligible for a $2,000 incentive.
No, the incentive amount is the same and it is given in full to the consumer regardless of whether the vehicle is purchased or leased.
An incentive of $250 will be provided toward the purchase and installation of in-home electric vehicle charging infrastructure once the program is launched.