What Can the iMHZEV Program Fund?
The Incentives for Medium and Heavy-Duty Zero-Emission Vehicles (iMHZEV) Program by Transport Canada aims to facilitate the adoption of cleaner vehicle technologies by reducing the financial burden on Canadian organizations. This article outlines what expenses are covered under the iMHZEV Program, offering a clearer view of its funding scope.
Program Funding Overview
The iMHZEV Program provides point-of-sale incentives to Canadian businesses and organizations for purchasing or leasing eligible medium and heavy-duty zero-emission vehicles (ZEVs). These incentives are designed to offset the higher upfront costs associated with ZEVs, making them more accessible. For complete eligibility requirements, see the complete program guide.
Funding Amounts and Rates
The program offers incentives that are applied directly at the point of sale, reducing the purchase or lease cost. The incentive amount varies depending on the vehicle and lease duration. For a detailed breakdown of funding amounts, visit the complete program guide.
Eligible Expenses
The iMHZEV Program covers expenses related to the acquisition of eligible vehicles. This includes:
Purchase Costs: The program provides incentives for the purchase of new medium and heavy-duty zero-emission vehicles listed as eligible.
Lease Costs: Incentives apply to vehicles leased for a minimum of 12 months. Leases shorter than 48 months are prorated.
Fleet Purchases: Organizations with fleets can benefit, with limits applied per organization rather than per department.
For a comprehensive list of eligible vehicles and expenses, consult the complete program guide.
Ineligible Expenses
Certain costs are not covered under the iMHZEV Program, such as:
Non-ZEVs: Vehicles that do not meet the zero-emission criteria.
Short-term Leases: Leases under 12 months.
Retrofitting Costs: Costs related to converting existing vehicles to ZEVs.
Expense Documentation Requirements
To qualify for the incentives, organizations must ensure proper documentation:
Proof of Purchase or Lease: This includes a bill of sale or lease agreement showing the incentive applied.
Consent Form: An Organization Consent Form must be completed as part of the eligibility process.
Visit the complete program guide for detailed documentation requirements.
Examples of Funded Projects
Organizations across various sectors have leveraged the iMHZEV Program for fleet upgrades. Examples include:
Logistics Companies: Transitioning delivery fleets to electric vehicles.
Municipalities: Acquiring electric buses for public transportation.
Funding Disbursement and Claiming Process
Incentives are applied at the point of sale. Dealerships process the paperwork, and organizations benefit from an immediate reduction in vehicle cost. For more on the disbursement process, see the complete program guide.
Conclusion
The iMHZEV Program significantly aids Canadian organizations in adopting sustainable vehicle technologies by covering key expenses associated with ZEV acquisitions. For detailed eligibility and application procedures, consult the complete program guide.
