New York State Governor, Andrew Cuomo has announced the development of a multi-year commercial electric vehicle incentive program that will provide businesses with funding to build and/or convert their fleet to electric. The program, which will be managed by the New York State Energy Research and Development Authority, will run for five years and provide companies with up to $20,000 for every electric vehicle purchased weighing over 10,000 lbs. The New York State Department of Transportation has committed $10 million in federal Congestion Mitigation and Air Quality funding for the programs first year.
The program will greatly benefit Smith Electric Vehicles Corporation, the U.K. headquartered commercial electric vehicle company which has recently announced the opening of a new manufacturing plant in New York City. The plant will be located in the South Bronx and is expected to generate 100 jobs in the borough.
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