Starting February 16, 2024, Canadians will be able to benefit from newly announced federal consumer rebates of up to $5,000 for the purchase or lease of eligible electric vehicles (EVs) and plug-in hybrid electric vehicles. The announcement was made by Transport Minister Steve MacKinnon in Ottawa, who stated that these rebates would be integrated into the purchasing process at dealerships, facilitating easier access to these incentives with reduced paperwork for consumers.

The eligibility criteria for these rebates focus on new battery electric and fuel cell electric vehicles sold from February 16, 2024, onward. This initiative is part of a broader strategy put forth by Prime Minister Mark Carney, which aims to transform Canada's automotive sector by making electric vehicles more financially accessible to consumers. Carney emphasized that these incentives would play a crucial role in encouraging Canadians to move away from traditional combustion engine vehicles.

The introduction of point-of-sale rebates signifies a significant shift in the federal government's approach to promoting electric vehicle adoption. By lowering the cost barrier at the moment of purchase, this initiative is expected to stimulate the market for electric vehicles in Canada, aligning with global trends toward sustainability and reduced greenhouse gas emissions. As the country pushes towards its climate goals, such measures are vital in fostering a more eco-friendly automotive landscape in Canada.