Tesla Inc.’s TSLA electric vehicle charging stations and home batteries have been excluded from rebates in the Canadian province of British Columbia. This move comes in the wake of tariffs imposed by the U.S. on Canada.
What Happened: BC Hydro, a Crown-owned utility, offers rebates of up to CAD 5,000 ($3464) on eligible battery storage systems and up to CAD 350 ($243) on the purchase and installation of EV chargers. However, Tesla products have been excluded from these rebates since March 12, according to a notice on BC Hydro’s website, as reported by Auto News on Thursday.
Local media reports indicate that Tesla products such as EV chargers, energy storage batteries, and inverters are a part of the exclusion.
The announcement was made by British Columbia’s Energy Minister, Adrian Dix, following a review of the program managed by the energy utility BC Hydro.
“I thought they [Tesla products] shouldn’t be made available on a public subsidy program right now. I don’t think anyone in British Columbia needs to be told why, and I think most people would support their removal from that list,” Dix told CBS
Meanwhile, BC Hydro stated in a release that its rebate program prioritizes Canadian goods while excluding products made in the U.S. “where practicable.”
Customers who received pre-approval for Tesla products before March 12 will still be eligible for their rebates.
Why It Matters: The decision comes after U.S. President Donald Trump imposed a 25% tariff on Canadian goods and a 10% tariff on Canadian energy on March 4. The surtax was temporarily suspended on March 6 for goods that comply with the United States-Mexico-Canada Agreement but is anticipated to be reinstated on April 2.
Tesla is encountering consumer backlash in the U.S. over CEO Elon Musk‘s close ties to President Trump. Musk had also described Canada as “not a real country” in a post on X which he later deleted. There was also a widespread call for revoking the Tesla CEO’s Canadian citizenship.
Not just, British Columbia, but, the province of Ontario had previously terminated a C$100 million ($69.28 million) contract with Musk’s Starlink, while the city of Toronto left Tesla out of its driver incentive program.
This development comes on the heels of allegations against Tesla for manipulating the EV rebate program in Canada. Four Canadian Tesla stores were suspected of exploiting the country’s EV rebate program by selling an average of 30 cars per hour over three days, claiming over 50% of the rebate funds.
Tesla holds a momentum rating of 83.63% and a growth rating of 55.20%, according to Benzinga’s Proprietary Edge Rankings. The Benzinga Growth metric evaluates a stock’s historical earnings and revenue expansion across multiple timeframes, prioritizing both long-term trends and recent performance. For an in-depth report on more stocks and insights into growth opportunities, sign up for Benzinga Edge.
Tesla stock declined 2.99% to close at $240.68 on Thursday. The stock has lost over 36% year-to-date.
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