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California Governor Signs $3,500 EV Subsidy Program; Tesla Model 3 and Model Y Eligible

2026-07-13 20:10:06

TSLA0.32%

California Governor Gavin Newsom signed bill SB 168 on Monday, July 14, launching the "My First EV" subsidy program offering $3,500 instant discounts to first-time electric vehicle buyers. The program, backed by $135.5 million in state funding matched by participating automakers, totals approximately $270 million. The subsidy applies to new vehicles priced up to $50,000 and used electric vehicles under $25,000 (receiving $1,750 each). Tesla's Model 3 and Model Y base versions qualify, while Cybertruck and higher trims exceed the price cap.

Disclaimer: The information on this page may come from third-party sources and is for reference only. It does not represent the views or opinions of Gate and does not constitute any financial, investment, or legal advice. Virtual asset trading involves high risk. Please do not rely solely on the information on this page when making decisions. For details, see the Disclaimer.

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