$1 Billion EV Rebate<\/p>\n
Newsom took to X to share the news, saying that the rebate program would take effect from June 26, where \u201cauthorized retailers will have rebates of $7,500 to $120,000.\u201d Newsom also reaffirmed California\u2019s stance on EVs. \u201cWhile Trump forfeits American automotive leadership, we\u2019re continuing to dominate in the space,\u201d he said.<\/p>\n
According to a press release by Newsom\u2019s office, the rebate program can be applied to public and private fleets of new electric medium\u2011 and heavy\u2011duty commercial vehicles like drayage trucks, electric semis, box trucks, delivery vans and more.<\/p>\n
The program will see an initial funding of $250 million this year, with a funding of over $1 billion in total available through 2030, the statement said. The funding will come through via the Low Carbon Fuel Standard (LCFS) program.<\/p>\n
With funding available for Semi trucks, the program can provide a boost to the Semi<\/a>, as well as to Newsom\u2019s clean energy goals. Notably, the Semi\u2019s $290,000 price is almost half of its diesel-powered rivals<\/p>\n Newsom had earlier touted a $200 million EV rebate program<\/a> aimed at first-time EV buyers with proposed incentives on passenger vehicles priced up to $55,000, while SUVs, Pickup trucks, and Vans priced up to $80,000.<\/p>\n Gavin Newsom Slams Trump<\/p>\n Meanwhile, demand for EVs fell by over 28% in the U.S.<\/a> during April 2026 as automakers sold over 120,000 units in the country, as gas prices continue surging and tensions in the Middle East continue to brew amid the Iran war.<\/p>\n Check out more of Benzinga’s Future Of Mobility coverage by following this link.<\/a><\/p>\n Photo courtesy: Mijansk786 on Shutterstock.com<\/p>\n