The Associated Press reports that the state of New Jersey's EV rebate program will temporarily be unable to subsidize EV purchases and leases "because the state program is so popular that it's already running out of money," according to officials.
For the fiscal year ending July 2023, the state's Board of Public Utilities reveals that the Charge Up New Jersey program has disbursed an estimated $35 million. The board has been forced to put the program on pause for the time being because all the money earmarked for the program will soon be used up if the current rate of application approvals and eligible vehicle orders maintains its momentum.
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