New Jersey halts electric vehicle rebates, demand too high

By BRUCE SHIPKOWSKI
Associated Press

TRENTON, N.J. (AP) — New Jersey residents looking to buy or lease an electric vehicle won’t be able to get a government rebate — at least temporarily. That’s because the state program is so popular that it’s already running out of money. The Charge Up New Jersey Program gives state residents up to $4,000 right when they buy or lease a new electric vehicle. The state Board of Public Utilities announced Monday it was putting the program on pause because all the earmarked funding will soon be disbursed. Federal tax credits and other incentives are designed to bring prices down and attract more buyers.