California Offers Generous Rebates to First-Time EV Buyers

First-time electric vehicle buyers in California will be able to buy electric cars at subsidized rates after Governor Gavin Newsom signed legislation offering rebates for new and used EV purchases. California’s new rebate program, worth around $270 million, will provide $3,500 in rebates for vehicles costing up to $50,000 and $1,750 for second-hand electric cars priced at up to $25,000.

As more companies like Ferrari N.V. (NYSE: RACE) bring more electrified models onto the global market, buyers will have a bigger pool of options to pick from and&

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