California to Extend Electric Vehicle Tax Credits to 2024
California’s lawmakers have approved legislation that will extend the state’s tax credits for plug-in hybrid and electric vehicles until 2024. The bill, which is expected to be signed by Gov. Jerry Brown, extends the state’s $2,500 tax credit that is passed on to buyers. Through the end of 2012, California has already handed out a total of $24.8 million in rebates.
California is also working on new legislation that would provide funding for up to 100 new hydrogen fueling stations over the next decade, which will hopefully increase the popularity of vehicles powered by hydrogen fuel cells. Fuel cell vehicles are expected to become more available with the introduction of new models from Toyota and Honda in 2015.
“Investing in electric vehicles is a smart investment for the state because it will pay for itself many times over in avoided health care and fuels costs,” said Roland Hwang of the National Resources Defense Council. “Electric cars are the future. By breaking our dependency on oil through electric cars will benefit the health and welfare of all Californians.”
Via The Detroit News
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