HomePartner UpdatesHow to Navigate Electric Vehicle Funding

How to Navigate Electric Vehicle Funding

By Cassie McDonald, Zero Emissions Grant Manager, IC Bus

Navigating the world of electric vehicle (EV) funding and incentives can be intimidating—unless fleets are working with the right partners.

Trusted advisors here at International Truck and IC Bus are helping customers filter through the right EV incentives based on their unique fleet operations and the amount of money available by region, state, and the federal government. And there are a lot of avenues to navigate. Whether it’s traditional grants and incentives, tax incentives and rebates, or there are various options depending on where fleets are located across the country, where businesses domicile their trucks and/or buses, where vehicles are operating, and what type of truck or bus the fleet operates.

Right now, although we’re seeing more federal funding opportunities for electric school buses, more EV truck funding is becoming available as needs in the market progress. It’s important to note that these incentives aren’t only for the vehicles; incentives also can be used to help fleets offset costs for charging infrastructure as well.

For example, the EPA has incentive opportunities through their Clean School Bus Program and their Clean Heavy Duty Vehicles Program, which are potentially releasing funds anywhere from $2 billion to $3 billion this calendar year. These opportunities can include funding for EV purchase as well as some of the charging equipment. This is a huge opportunity wherever you are located in the country.

At the end of the day, we’re here to help customers understand those requirements and find the funding that will work best for their specific fleet.

Ultimately, the key to remember is that the incentive process is individualized for every operation, but it doesn’t have to be overwhelming. For businesses looking to transition their fleets to EVs, the earlier the conversation around funding starts, the better. Often, for federal grants and incentives, we may know that they are coming out a year in advance, but we can only access the application for a short window of time. There is a lot of prep work and conversations leading up to the application deadline, but that will ultimately make the process easier and smoother.

International Truck and IC Bus consultants are here to ensure fleets are covered throughout the entire process. Navistar has recently expanded its grant team to assist our network and will be coming out with additional tools to further help in the incentive process. This is what we specialize in and we’re here for the long haul to help fleets through this transition.

Tune in for even more about our EV consulting process, the ins and outs of charging infrastructure, and best practices around customer onboarding in additional episodes of “The EV Fleet Road Map” podcast.

Listen to Episode 6. 

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