California Drops $5,000 Rebate on Electric Cars

Electric car buyers in California will have to reach deeper in their pockets as the state has run out of the $5,000 rebates it was handing out to customers interested in vehicles like the Nissan LEAF and the Tesla Roadster. The generous rebate was given on top of the $7,500 tax credit offered by the government.

As for the 500 owners of electric cars that are currently on the waiting list to receive the rebate, California’s Air Resources Board said it will consider providing them with a $2,500 discount. Not what they signed up for, but still better than nothing.

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