The federal government is broadening its financial support for zero-emission vehicles beyond the consumer market through a $550-million incentive program that will help businesses buy or lease electric commercial vehicles ranging from full-sized pickups to semitrucks.
“Today’s announcement is about making sure that Canadian businesses and leaders of our communities have the options they need to transform their fleets to zero-emission vehicles,” Alghabra said in a release. Unlike the Incentives for Zero-Emission Vehicles program, the comparable initiative for consumers that offers a flat $2,500 off plug-in hybrids or $5,000 off battery-electric vehicles, the iMHZEV program takes a tiered approach.
The value of the incentive is determined by the term of the lease. Vehicles bought outright or leased for 48 months are eligible for the full amount.