Take Advantage of the CVES Rebate Before It's Too Late
To encourage the adoption of cleaner commercial vehicles, the Commercial Vehicle Emissions Scheme (CVES) was introduced in 2019. This outcome-based rebate scheme applies to imported EVs with a maximum laden weight not exceeding 3,500kg. But time is running out for businesses to take advantage of the current Band A incentives of $30,000 as this will soon be stepped down to $15,000 from 1 April 2023. EVCo has been at the forefront of EV transformation and can help clients in the logistics and warehousing industry find solutions to take advantage of these incentives both financially and operationally.
What is CVES?
The CVES is a government rebate scheme designed to encourage businesses and consumers to switch their vehicles to cleaner energy sources, such as electric vehicles (EVs). The scheme was first introduced in 2019 and covers all new and used imported EVs, including Light Goods Vehicles, Goods-Cum-Passenger Vehicles, and small buses with a maximum laden weight not exceeding 3,500kg. Businesses that take part in the scheme are eligible for two different rebates depending on the size of their vehicle; Band A offers $30,000 while Band B offers $20,000.
The Current Situation
In 2021, it was announced that the CVES scheme would be extended until 31 March 2025 but with one major change; from 1 April 2023 there will be a stepdown in incentives from $30,000 for Band A vehicles to $15,000. This means that businesses have just one month left (as of writing) to take full advantage of the current Band A incentive before it is reduced by half.
What EVCo Can Do To Help
EVCo is an end-to-end electric-Mobility-as-a-Service (eMaas) solution designed with one objective in mind — helping companies successfully transition to an electrified transport fleet. They understand how important it is for companies to make use of these incentives before they are gone forever, and are experienced EV consultants who have been helping clients in the logistics and warehouse industry transition towards clean energy solutions.
Time is running out for businesses looking to benefit from the current band A incentives under the Commercial Vehicle Emissions Scheme (CVES). With one month left before they are reduced from $30,000 to $15,000 per vehicle starting 1 April 2023, now is the time for companies to act quickly if they want to take advantage of this rebate program fully.
Contact EVCo today if you want more information about how they can help your business make use of these incentives before it’s too late!
Contact: Eleanor Koh, EV in Logistics Specialist, +65 96157964, [email protected]
**This article was contributed by our knowledge partner, EVCo, to provide industry insights. SLA does not endorse any products or services mentioned.