DENVER ~ As federal incentives for electric vehicles (EVs) expired on September 30, the Polis Administration in Colorado has announced an increase in point-of-sale rebates through the Vehicle Exchange Colorado (VXC) program. This move aims to keep EVs affordable for all Coloradans and encourage more people to make the switch to cleaner transportation options.

Starting November 3, 2025, VXC rebates will see a significant increase from $6,000 to $9,000 for new EV purchases and leases, and from $4,000 to $6,000 for used EV purchases and leases. Governor Polis expressed his support for this decision, stating that "the market has made it clear, EVs are here to stay." He also encouraged Coloradans who have been considering purchasing an EV or have been holding off on doing so to take advantage of these increased rebates.

Colorado has been a national leader in EV adoption thanks to a combination of federal tax credits and state incentives. Currently, there are over 200,000 registered EVs in the state, with EVs making up a quarter of new vehicle sales so far in 2025. The VXC program plays a crucial role in making EVs accessible to income-qualified Coloradans. Since its launch in summer 2023, more than 2,700 individuals have traded in their old or high-emitting vehicles for an EV through this program.

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According to Colorado Energy Office Executive Director Will Toor, transportation is one of the leading sources of emissions in the state. Therefore, widespread adoption of EVs is essential in achieving their climate goals. He also stated that "Coloradans have made it clear that they want EVs," and with Congress revoking key incentives that save money for Coloradans, the state is stepping up by increasing its own incentives.

The VXC rebates are available for income-qualified individuals who trade in their old or high-emitting vehicles to purchase or lease an EV. This includes both battery electric and plug-in hybrid electric vehicles. The Community Access Enterprise has approved $25.6 million in funding for the program's first three years, with additional ongoing funding expected until June 30, 2032. The increased rebate amounts will be funded from the VXC program's existing budget for the 2026 fiscal year.

Monica and Spencer, participants in the VXC program, shared their positive experience with trading in their old car for a new Nissan Leaf. They stated that they were hesitant to give up their old, reliable car but found it worthwhile due to the trade-in and the reduction in their carbon footprint. They have already put 3,000 miles on their new EV and have cut their monthly gas expenses by more than half.

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More information about program eligibility and how to apply can be found on the VXC webpage, which is available in both English and Spanish. Coloradans must apply and receive approval for a rebate before purchasing or leasing an EV from one of over 170 participating automobile dealers across the state. The increased rebate amounts will only apply to eligible EV purchases/leases made starting November 3, 2025. Those who are already approved for a VXC rebate but have not yet redeemed it will also benefit from this increase.

In addition to the VXC rebate, Coloradans can also combine other incentives to make purchasing an EV even more affordable. More information about EVs and other financial incentives can be found on the EV CO website, and individuals can also explore incentives through the Colorado Energy Savings Navigator.

With these increased rebates, Colorado is taking a proactive step towards achieving its goal of having nearly one million EVs on its roads by 2030. By making EVs more accessible and affordable for all Coloradans, the state is making significant progress towards reducing emissions and creating a cleaner, more sustainable future.

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