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Colorado ramps up efforts to transition to EVs

Program launches for Coloradans to exchange old or high-emitting vehicles for a point of sale rebate to purchase or lease electric vehicles

Denver—The Colorado Energy Office (CEO) announced it has opened applications for its Vehicle Exchange Colorado (VXC) program to eligible Coloradans. Income-qualified Coloradans may apply to exchange an old or high-emitting vehicle for a point of sale rebate to purchase or lease an electric vehicle (EV), which includes both battery electric vehicles and plug-in hybrid electric vehicles.

The application portal for the rebates will be available through CEO’s Vehicle Exchange Colorado webpage. CEO will accept applications on an ongoing basis until funding is expended. A total of over $1.8 million will be available for EV rebates through the VXC program.

A $6,000 rebate is available to purchase or lease a new EV and a $4,000 rebate is available to purchase or lease a used EV. Recipients may only redeem this rebate to purchase or lease vehicles with a manufacturer’s suggested retail price or purchase price of $50,000 or less. Rebate recipients must purchase or lease their EV from an authorized automobile dealer, and CEO will continue to add authorized automobile dealers to this list as more automobile dealers are approved.

To qualify for a VXC rebate, Coloradans must have an income that is no more than 80% of the area median income in the county where they live. Applicants must also own an operational gasoline- or diesel-powered vehicle that is at least 12 years old (e.g., model year 2011 or older for a 2023 application) or fails a Colorado emissions test to exchange for a rebate.

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