RIZON Trucks launched in Canada earlier this year, and RIZON vehicles will qualify for a $75,000 per vehicle incentive through the iMHZEV Program.
What is the purpose of this program and how do you apply? Here is a quick breakdown.
iMHZEV program background
The Canadian government has committed to achieving net-zero emissions by 2050. One of the obstacles it needs to address to achieve this goal is greenhouse gas (GHG) emissions.
Notably, the government lists transportation as its second greatest source of GHG emissions and has decided to take active reduction measures. Therefore, it is encouraging businesses and fleets to transition to zero-emission vehicles.
To jump-start these efforts, the government established the iMHZEV Program (Incentives for Medium- and Heavy-Duty Zero-Emission Vehicles) in 2022 to make zero-emission vehicles more affordable.
Qualifying vehicles
The federal institution, Transport Canada, lists the following three types as qualifying zero-emission vehicles:
◆ Battery-electric
◆ Plug-in hybrid electric
◆ Fuel cell electric
RIZON trucks will qualify as battery-electric class 4/5 vehicles.
How much funding does the iMHZEV Program provide?
Transport Canada lists incentives of up to $200,000 that can be used for purchasing or leasing qualifying vehicles. The amount received depends on the class of vehicle and the period of lease. The incentive is applied at the point of purchase or lease.
Any class of commercial vehicle from 2B and upward qualifies and there is no minimum purchase requirement.
Here is a breakdown of the amount you can expect towards a RIZON truck.
Is there a time limit for utilizing the iMHZEV Program?
According to Transport Canada, funding is available on a first-come, first-serve basis, and vehicle eligibility dates are listed until the end of March 2026. However, the incentive program may end sooner if the funding is exhausted before the eligibility dates expire.
Who can apply for this incentive program?
Authorized dealers are the only ones who can submit incentive requests, and the purchasing party should receive the incentive directly from the authorized dealer at the point of sale. In other words, you cannot receive the incentive on your own as a buyer.
The following types of organizations can register through authorized dealers to receive iMHZEV incentives:
◆Businesses
◆Indigenous communities and non-profit organizations
◆Provincial, territorial, and municipal fleets
Our team of experts at RIZON can support you through the entire process. Our trained professionals can answer any questions you have. Contact us at the following link.
Can funds be received for more than one truck?
Eligible organizations can receive either a maximum of 10 incentives or up to $1 million per calendar year.
Can the iMHZEV incentive be combined with other provincial/territorial incentives?
The iMHZEV incentive is federal and can be combined with any other provincial/territorial incentives up to 75% of the manufacturer’s suggested retail price for any given vehicle.
Which vehicles are ideal for replacing with zero-emission vehicles?
Choosing an ideal candidate in your fleet to replace with a zero-emission vehicle will largely depend on your needs. Considerations should be made according to the vehicles currently in use, the range requirements, the routes they take, the payload capacity, the age of the existing vehicles in a fleet, and charging requirements.
There are a growing number of electric commercial vehicle options available, including vans, trucks, and buses.
For class 4 and 5 medium-duty electric trucks, Daimler Truck has launched the RIZON brand in the United States.
For more tips on how to begin fleet electrification, check out our guide.