California Governor Gavin Newsom announced that applications are open for the California Clean Fuel Reward rebate program for electric medium- and heavy-duty trucks. Rebates will be available statewide to help fleets access and deploy zero-emission electric technology – positioning California to compete as global electric heavy-freight trucks sales tripled in 2025 alone. “With funding from the Low Carbon Fuel Standard program, CCFR is expected to become the largest utility-administered rebate program for electric trucks in the country, with $250 million available this year and over $1 billion in total rebate funding expected through 2030.” Newsom said: “While Trump surrenders America’s auto industry to China, California is choosing a different path – one that cements our global leadership in clean technologies that will define the future of transportation. California will never stop fighting for good-paying American jobs, economic prosperity, and a more secure future for our workers and families.” Publicly traded companies in the space include Ford (F), General Motors (GM), Honda (HMC), Lucid Group (LCID), Mercedes-Benz (MBGYY), Nissan (NSANY), Rivian (RIVN), Stellantis (STLA), Tesla (TSLA), Toyota (TM) and Volkswagen (VWAGY).
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