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New Jersey Drivers May Soon Get $5,000 Rebates for Electric Cars

Natalia Kniazhevich

(Bloomberg) -- New Jersey is on the cusp of taking its biggest step yet to promote electric vehicles.

The state’s Senate and Assembly passed a bill late Monday calling for 2 million plug-in electric vehicles by 2035. That’s nearly 20 times the number in the state today. It would mean about 70% of all light-duty vehicles in New Jersey would be electric, based on the number of automobiles on the road now.

To do it, the legislation would offer consumers rebates of as much as $5,000.

The move is part of an effort to fight climate change in New Jersey, where transportation accounts for about half of greenhouse gas emissions. If Democratic Governor Phil Murphy signs the measure, the state will join about a dozen others with electric-vehicle targets. New York is pushing to have 2 million on the road by 2030. California wants 5 million by then.

Murphy’s spokeswoman, Alyana Alfaro Post, declined to say whether the governor would sign it but added that he’s supported the initiative in the past. Assemblyman Daniel Benson, a Democrat who sponsored the legislation, said his team worked closely with Murphy’s staff on the bill’s language and expects him to sign it.

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