N.J. Governor Signs Bill Giving $5,000 Rebates for Electric Cars

(Bloomberg) -- New Jersey Governor Phil Murphy has signed a bill that represents the state’s most ambitious strategy to promote electric vehicles.

New Jersey, where transportation accounts for about half of greenhouse gas emissions, joins about a dozen other states that have targets for electric-vehicle adoption. The bill calls for 2 million plug-in electric vehicles by 2035, and offer consumers rebates of as much as $5,000.

“We are expecting about 60% of total U.S. new car sales to be electric by 2040,” said Nick Albanese, BloombergNEF’s head of Intelligent Mobility analysis. “New Jersey’s target would be above average.”

To contact the reporter on this story: Natalia Kniazhevich in New York at nkniazhevic2@bloomberg.net

To contact the editors responsible for this story: Lynn Doan at ldoan6@bloomberg.net, Pratish Narayanan, Will Wade

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