In most developed countries and some developing countries, electric car tax credit system is already implemented and this system allows buyers to save a significant amount of money on a new purchase of an electric car.
Some countries also offer subsidies for electric car conversion kits and this will allow car owners to fit their new electric kits for very reasonable prices. In the United States, the IRS has introduced a very detailed tax deduction structure for EVs (electric vehicles) of different sizes.
The IRS regulatory scheme for cars in the United States is:
1. Plug In Tax Credit – For any electric car that is purchased after mid of February, IRS offers a tax deduction from 2500 USD to 7500 USD, which is a lot of money. They also made the procedures to obtain this discount very straightforward so there are not many legal hassles to obtain the same.
2. Conversion Kit For Gasoline Cars- Conversion Kit installation on a traditional gasoline powered car is also recognized by IRS and a maximum discount of 4000 USD is offered for the same.
Since there are performance sports cars from Tesla, Chevrolet and Nissan are available in the United States, many consumers switch to these electric sports cars so that they not only save money but also get great performers that are eco friendly.
EV Cars in Canada
Ontario Government is insisting on changing at least 10% of the cars to be electric vehicles and offer one of the largest discounts in the world. You can avail a discount of 10, 000 in Ontario (USD) even though the available amount after certain legal formalities can be as low as 8,500 USD. However, this discount is considered as the highest possible deduction for any country.
France offers an impressive discount of 5,000 to 7,000 EUR based on the car you purchase and other specifications involved in the purchase. France is quite popular for electric vehicles and is considered as a great place to purchase electric vehicles.
Belgium has the best proposals for car buyers who are looking for EVs. The country offers around 12,000 Euros as discount. Most car models available in Belgium benefit a lot from this and the buyers can enjoy a 30 to 60% discount on the cars that they purchase.
In Germany, there are no discounts available for car buyers but the government spends a lot on research and development in EV sector. Since manufacturers benefit a lot from this, German cars probably are going to be the best in a couple of years.