Minnesota EV rebate begins today, but funded is limited

The future for electric vehicles in Minnesota

As Minnesotans consider whether to purchase an electric vehicle, lawmakers are hoping to provide funding to continue to build charging infrastructure throughout the state and nation.

ST. PAUL, Minn. (FOX 9) - Those interested in purchasing an Electric Vehicle (EV) could receive a little help with their purchase from the state of Minnesota through a rebate program that begins Wednesday, but only limited funds will be offered to participants on a first-come, first-served basis.

The Minnesota Department of Commerce opens applications for its EV Rebate Program at 10 a.m. Wednesday, Feb. 7. Rebates will range up to $2,500 for a new EV that is purchased or leased, and $600 for a used vehicle. Once approved, rebates will be issued as direct payments.

To be eligible, the EV must be either fully electric, or a plug-in hybrid, must be purchased or leased on/after May 23, 2023, and be titled in Minnesota.

There’s no income limit to be approved for a rebate, but there is a limit on the cost of the EV itself.

New vehicles must have a base MSRP of $55,000 or less, excluding taxes and fees, and used vehicles must have a purchase price of $25,000 or less. A business, nonprofit or government entity will only be eligible to receive one EV rebate.

Applications can be found here, and those applying will need to include a driver’s license, utility bill or lease agreement, and a purchase agreement for their new or used EV.

The news comes as more federal guidelines were issued for EV tax credits on Jan. 1, 2024.