DRIVE EV

Funded and administered through a partnership between the Rhode Island Office of Energy Resources (OER) and the Rhode Island Infrastructure Bank (RIIB), DRIVE EV offers rebates of up to $1,500.00 for the purchase or lease of new battery electric vehicles and fuel-cell electric vehicles, and up to $1,000.00 for new plug-in hybrid electric vehicles.

The project also provides rebates of up to $1,000.00 for the purchase or lease of used battery electric vehicles and fuel-cell electric vehicles, and up to $750.00 for used plug-in hybrid electric vehicles.

DRIVE EV rebates are available on a first-come, first-served basis[1].

This project is open to Rhode Island residents who purchase or lease a qualifying vehicle from a licensed Rhode Island automobile dealership or a qualified Out-Of-State (OOS) dealership.

Applicants must submit all required supporting documentation within one hundred and twenty (120) days of the purchase or lease date, including copies of:

  • A valid Rhode Island registration certificate for the electric vehicle;
  • The final sales or lease agreement, including an itemization of credits, discounts, and incentives received (where applicable);
  • A Rhode Island driver’s license; and
  • A signed W-9 form.

Importantly, if a qualified applicant does not submit all required supporting documentation within one hundred and twenty (120) days, as indicated above, OER and RIIB will release the “reserved” funds back to the DRIVE EV project, and a new application will need to be submitted.

The DRIVE EV Project Administrators will communicate with the applicant regarding their application via email. It is the applicant’s responsibility to check all DRIVE EV related emails for status updates and requests for additional information or documents required to complete the application.

OER and RIIB will review all submitted materials for completeness and to ensure the applicant meets all eligibility requirements.

If approved, OER and RIIB will award the appropriate rebate amount directly to the applicant in a single payment, by check, within four to six (4-6) weeks from the date of final approval.[2]

OER and RIIB reserve the right to modify the DRIVE EV project and its terms and conditions and/or terminate the project at their sole discretion. The submittal of an application form does not guarantee an award.

DRIVEEV Project Requirements and Rebate Amounts
 

NEW Electric Vehicle USED Electric Vehicle

$1,500.00 rebate for new Battery Electric Vehicles (BEVs) or new Fuel-Cell Electric Vehicles (FCEVs)

OR

$1,000.00 rebate for new Plug-in Hybrid Electric Vehicles (PHEVs)

$1,000.00 for used Battery Electric Vehicles (BEVs) or used Fuel-Cell Electric Vehicles (FCEVs)

OR

$750.00 for used Plug-in Hybrid Electric Vehicles (PHEVs).

Purchase or lease a new eligible EV with an agreed upon value of the vehicle at or below $60,000.00*

* $60,000.00 price cap does not include taxes, registration fees, delivery fees, and any capitalized cost reductions including incentives, rebates, negotiations, trade-in allowance, cash deposits, and any other similar reductions that could be considered a capitalized cost reduction.

Purchase or lease a new eligible EV with an agreed upon value of the vehicle at or below $40,000.00*

* $40,000.00 price cap does not include taxes, registration fees, delivery fees, and any capitalized cost reductions including incentives, rebates, negotiations, trade-in allowance, cash deposits, and any other similar reductions that could be considered a capitalized cost reduction.

Leased vehicles (used) are required to have a lease term of at least twenty-four (24) months to qualify for the project.

 

Leased vehicles (used) are required to have a lease term of at least twenty-four (24) months to qualify for the project.

 

Purchase or lease date must be on or after 07/07/2022

 

Purchase or lease date must be on or after 07/07/2022

 

Eligible vehicles must be purchased or leased by a Rhode Island resident at a licensed Rhode Island automotive dealership or at a qualified Out-of-State dealership and registered in Rhode Island.

 

Eligible vehicles must be purchased or leased by a Rhode Island resident at a licensed Rhode Island automotive dealership or at a qualified Out-of- State dealership and registered in Rhode Island.

 

From the date of purchase/lease:
Applicants will have one hundred and twenty (120) days to provide OER with all required supporting documentation

 

From the date of purchase/lease:
Applicants will have one hundred and twenty (120) days to provide OER with all required supporting documentation

 

Qualifying Dealerships:

Vehicles must be purchased at a licensed RI Automobile Dealership or at a qualified Out-Of-State (OOS) dealership. Vehicles purchased from ANY licensed RI Automobile Dealership are eligible for the DRIVE EV Program. Click here for the list of Qualifying Out-Of-State Dealerships.


For additional information, click here for the DRIVE EV Guidance Document.

 

APPLY HERE!

[1] Rebates will be made on a first-come, first-served basis based upon adherence to application requirements and contingent on funding availability. OER reserves the right to extend, modify, or terminate this project based on funding availability and/or other factors.

[2] Processing times may vary.