CHEAPR lowers incentives for BEVs and PHEVs, Changes MSRP Cap
After this blog put up a detailed update on CHEAPR 2 weeks ago, the date at which the replenishment of funds mandated by the legislature took effect, we have learned that incentive levels and criteria have changed as of today (Oct. 15).
The max MRSP has been lowered to $42,000 from $50,000 for PHEVs and BEVs. The max MSRP for FCEVs (fuel cell) has been raised to $60,000. This resolves the conflict created by the earlier, poorly thought out, cap in that there are virtually no FCEVs available under $50K.
Incentives for PHEVs are now $500, no matter the electric range. Previously, PHEVs with 45+ miles of electric range were eligible for $1000.
There are now 2 categories of BEV incentive, down from 3. These are 200+ miles and <200 miles. They are eligible for $1500 and $500, respectively. The old categories were 200+ ($2000), 120 – 199 miles ($1500), and <120 miles ($500).
The incentive for FCEV remains at $5000 irrespective of range (and the range across these vehicles varies quite a lot).