California's new EV incentive gives a leg up to Lucid and Rivian

California Gov. Gavin Newsom signed a bill providing a $3,500 rebate for first-time EV buyers, limited to new EVs priced at $50,000 or less. The policy should modestly support EV demand at the lower price points the incentive targets, though it is capped by the purchase-price threshold.

Analysis

California Gov. Gavin Newsom signed a bill providing a $3,500 rebate for first-time EV buyers, limited to new EVs priced at $50,000 or less. The policy should modestly support EV demand at the lower price points the incentive targets, though it is capped by the purchase-price threshold.