New Jersey Enacts Law Establishing $300 Million EV Incentive Program

Democratic Governor Phil Murphy signed legislation on Jan. 17 that sets a goal of having 2 million light duty plug-in electric vehicles in the state by 2035 and requires at least 85 percent of new light duty vehicles sold or leased to be electric by 2040. The legislation creates an incentive program to provide at least $30 million in disbursements annually for a 10-year period. The bill also directs state-owned light-duty vehicles to be electric by 2035.

The measure establishes an interim target of 330,000 light duty plug-in electric vehicles in the state by 2025. It calls for expanding charging infrastructure, including requiring 400 direct current fast chargers at no fewer than 200 charging locations, and 1,000 Level Two chargers available across the state by 2025. At least 10 percent of new purchases by the New Jersey Transit Corporation shall be zero emission buses and 100 percent all-electric by the end of 2032.