Electric car on your wish list? Some get cheaper today.

Federal rebates kick in May 1

Electric vehicles get cheaper today with federal rebates kicking in to help offset the cost.

The rebates were announced in the last Liberal budget. They will take up to $5,000 off the cost of electric vehicles, and $2,500 off plug-in hybrids, but they apply only to cars that cost less than $55,000. That means the most popular of the lot – the Tesla Model 3 – does not qualify. Nine electric cars and 13 plug-in hybrids – including the Chevy Bolt and Nissan Leaf – are eligible.

The Ontario government last year eliminated a $14,000 rebate. Electric car experts say that led to a huge decline in electric vehicle sales.