The Ontario Ministry of Transportation (MTO) is currently offering Canadian Government grants for small business lease or purchase of a hybrid or electric vehicle fleet. The program is one of the many Canadian Government Funding Incentives for Greening your Business and reducing Canada’s commercial carbon footprint. This program is available to private consumers as well as non-profit organizations and businesses.
Electric Vehicle Incentives: Ontario Small Business Funding Details
The Electric Vehicle Incentive Program applies exclusively to those looking to purchase or lease a new, highway capable, plug-in hybrid electric vehicle(s) or battery electric vehicle(s). Businesses or consumers looking to partake in this program can receive up to $8,500 per vehicle towards the purchase or lease of up to 5 vehicles per calendar year. In order for businesses to receive their full incentive, fleets must be either purchased or leased for 36 months and registered in Ontario.
Benefits of Owning a Green Fleet
Amongst the inherent fuel and cost benefits of owning an electric/hybrid electric vehicle, the province of Ontario is introducing a variety of new and enticing benefits to promote the adoption of electric vehicles. Ontario’s Green Licence Plate Program certifies the vehicle as being an eligible plug-in hybrid electric or battery electric vehicle and provides those vehicles access to High Occupancy Vehicle (HOV) lanes on 400 series highways and areas of high congestion; even if there is only one person in the car. In addition, GO Transit parking lots are beginning to offer a selection of parking spots where users can plug in and recharge their vehicles. Incentive and initial adoption programs are expected to grow as the Ontario Government eventually looks to increase the number of hybrid-electric/electric vehicles driven in Ontario to 1/20 by 2020.
More Canadian Government Funding Incentives
Businesses that are looking to receive additional advice and support towards receiving Canadian Grant Funding for Business Expenditures are encouraged to contact one of our Canadian Government Funding Experts. Those who are interested can also receive the latest news on Ontario’s funding for small business opportunities by subscribing to our Weekly Canadian Small Business Funding E-Newsletter or following us on Twitter.