Canada's EV Affordability Program Passes $122 Million in Claims
More than $122 million in Electric Vehicle Affordability Program claims have been filed since February 16, with about $2.13 billion still available under the five-year, $2.275 billion replacement for iZEV.
Source: Transport Canada
OTTAWA — More than $122 million in Electric Vehicle Affordability Program claims have been filed since February 16, with about $2.13 billion still available under the five-year, $2.275 billion replacement for iZEV.
If you shop EVs in the GTA or Metro Vancouver, the money is real again. The rules are not.
EVAP replaced iZEV after Ottawa ran the old program dry in 2025. Up to $5,000 for eligible battery-electric and fuel-cell vehicles, up to $2,500 for plug-in hybrids, on purchases or leases with a final transaction value of $50,000 or less. Canadian-made EVs have no price cap.
Dealer claims opened March 31, 2026, with retroactive eligibility back to February 16. That is not iZEV with a new logo. EVAP keys off final transaction price, not base MSRP. Dealer fees and delivery charges count. Extended warranties and financing costs do not. Vehicles must come from countries with Canadian free-trade agreements, which excludes Chinese-built EVs regardless of how much you like the price.
The rebate also steps down on a schedule: $5,000 for BEVs and FCEVs in 2026, then $4,000 in 2027, $3,000 in 2028 and 2029, and $2,000 in 2030. PHEV incentives follow the same staircase from $2,500 this year. Waiting until next model year literally costs money.
Dealers apply the credit at the point of sale and seek reimbursement from Ottawa. Some stores are still waiting on repayments after iZEV payment delays last year, with individual dealers owed more than $200,000 according to June reporting. If you are cross-shopping against a U.S. household that lost the federal $7,500 credit, Canada suddenly looks competitive again — assuming your dealer is actually getting paid.
For Asian Canadian families comparing a Model Y, Ioniq 5, RAV4 Hybrid, or a made-in-Canada option, run the out-the-door number with EVAP included, then stack provincial rebates where they still exist. Our GTA region guide and GVA region guide cover local charging reality. Our condo EV guide still applies if you do not control the plug.
The program runs through March 31, 2031, or until funds run out — whichever comes first. First-come, first-served is not marketing language here. If you were waiting for iZEV to return unchanged, read the transaction-price rules before you promise your parents a rebate that the trim level does not qualify for.