California EV Rebate Program: Tesla Funds Exhausted as State EV Market Share Slides

3-line summary

• Beyond the previously reported 12,000 EV purchases, California's $270 million rebate program splits funding evenly between the state and automakers ($135.5 million each); as of the program's launch, funds earmarked for Tesla vehicles have already been exhausted, even though Tesla accounts for more than half of all EVs sold in California. Ford, GM, Honda, Hyundai, Kia, Toyota (including Lexus), Lucid, Nissan, Rivian, Subaru, and Volvo continue offering rebates.
• EVs made up 18% of California's total vehicle sales through September 30, down from 23% a year earlier and 25% in 2024; the article said national EV sales have also declined even as global EV sales rise, attributing part of the US decline to the 2025 elimination of the federal EV tax credit ($7,500 for new vehicles, $4,000 for used).
• For comparison, California's previous rebate program ended in 2023 after spending about $1.49 billion over a decade to support 586,000 EV purchases.

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