On July 11, Transport Canada announced a new medium and heavy-duty zero-emission vehicle incentive program, also known as the iMHZEV Program. This $550 million purchase or lease incentive program will make it easier for businesses to adopt clean technology and help retailers achieve their fleet-related greenhouse gas (GHG) emission reduction targets at a lower cost. Meanwhile, it will help Canada achieve its goal of 100 per cent medium and heavy-duty vehicle sales being zero-emission by 2040.
Depending on the type of vehicle, incentives can range from $10,000 to $200,000 to help cover the price difference between an electric and traditional vehicle. Businesses are eligible for up to 10 incentives under this program in a calendar year and incentive requests for reimbursement are expected to be available in the Fall of 2022.
The 2022 federal budget also provided funding to extend the Zero Emission Vehicle Infrastructure Program (ZEVIP) until March 2027. Workplaces can apply to install charging/refueling infrastructure with varying incentive amounts depending on the type of infrastructure.
For more information on provincial and federal incentives, visit RCC’s member-only grants and incentives webpage.