BYD Buses, Trucks Eligible for $165 Million in HVIP Money

Rhea-AI Summary

BYD announced that buyers of its American-made battery-electric transit buses, motor coaches, and heavy-duty trucks can access $165 million in funding through the California Air Resources Board's Hybrid and Zero-Emission Truck and Bus Voucher Incentive Project (HVIP). The program opens on June 8, with $165 million available, split into two phases. Various BYD vehicles are eligible for substantial vouchers, with potential increases for vehicles in disadvantaged communities or purchased by public transit agencies. BYD has delivered over 500 electric buses across the U.S., emphasizing its position as a leader in the zero-emission bus sector.

Positive

• Access to $165 million in funding for buyers can boost sales.
• BYD leads the industry with over 500 electric buses delivered.
• Incentives up to $150,000 for specific truck operations enhance attractiveness.
• Commitment to hiring veterans and community support strengthens brand image.

Negative

• None.

BYD announced Tuesday that buyers of its line of American-made battery-electric transit buses, motor coaches, and heavy-duty trucks are eligible for $165 million in funds through the California Air Resources Board (CARB) Hybrid and Zero-Emission Truck and Bus Voucher Incentive Project (HVIP).

Courtesy of BYD

HVIP will open to new voucher requests at 10 a.m. on Tuesday, June 8. A total of approximately $165 million will be available; however, only half of the funds will be released to the public when the program opens. The other half will be made available two months later, at 10 a.m. on August 10.

Class 8 trucks performing drayage operations as well as any vehicles purchased by a public government entity are exempt from the two-month pause.

Vehicles in the voucher program include BYD’s entire battery electric transit bus line and most coaches as well as Class 8 and Class 6 electric trucks.

The voucher program includes BYD’s complete transit bus line, with the 30-foot K7M eligible for $85,000 in incentives, and the 30-foot K7M-ER, 35-foot K8M, 40-foot K9M, and 60-foot K11M eligible for $120,000.

BYD’s 35-foot C8M, 35-foot Double Decker C8MS, 40-foot C9M, 45-foot C10M, and 45-foot Double Decker C10MS motor coaches are eligible for $120,000 vouchers.

For electric truck customers, BYD’s Class 6 models 6F and 6R are eligible for $85,000 while the Class 8 models 8R and 8TT are eligible for $120,000 (or $150,000 in drayage operations).

Voucher amounts can be increased by an additional 10% if the vehicles are domiciled in a disadvantaged community. Voucher amounts can be increased by an additional 15% if the vehicles are procured by a public transit agency.

The chassis of any vehicle receiving an HVIP voucher must be titled and licensed in California, and the vehicle must be California-registered.

BYD is the industry leader in zero-emission electric buses with over 500 vehicles delivered to customers. More than 50 customers across the United States are operating U.S.-made BYD electric buses in communities from Martha’s Vineyard and Indianapolis to Palo Alto and Los Angeles.

BYD trucks are hard at work across America moving freight at ports, railyards, and warehouse distribution centers; making deliveries; and collecting refuse. BYD trucks lower the total cost of ownership with lower fuel and maintenance costs than their internal combustion engine counterparts.

BYD’s Lancaster, California manufacturing facility employs hundreds of men and women including members of the Sheet Metal, Air, Rail and Transportation Workers Union (SMART), Local 105. Our Community Benefits Agreement includes a commitment to hire veterans, single parents and the formerly incarcerated.

ABOUT BYD

The Official Sponsor of Mother Nature™, BYD, the world’s leading electric vehicle company, is dedicated to creating a “total solution.” Globally, BYD has committed to corporate social responsibility, deeply monitoring our supply chain in terms of human rights, environmental safety, hazardous substance control and intellectual property rights. We only select suppliers who share our commitment to just labor practices, human rights standards and the environment.

For more information, please visit https://en.byd.com/ or follow BYD on LinkedIn, Twitter, Facebook and YouTube.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210513005769/en/

FAQ

What is the amount available through BYD's HVIP funding?

BYD announced $165 million is available through the California Air Resources Board's HVIP funding.

When does the HVIP program open for new voucher requests?

The HVIP program opens for new voucher requests on June 8 at 10 a.m.

Which BYD vehicles are eligible for HVIP vouchers?

BYD's entire battery electric transit bus line, most coaches, and Class 6 and Class 8 electric trucks are eligible.

How much can buyers receive in vouchers for BYD's electric trucks?

Buyers can receive $85,000 to $150,000 in vouchers for BYD's electric trucks, depending on the model and operation type.

Do the HVIP vouchers increase for disadvantaged communities?

Yes, voucher amounts can increase by an additional 10% if the vehicles are domiciled in a disadvantaged community.