Press release from Governor Jared Polis
DENVER – General Motors (GM) has informed state officials that the auto company will begin using Colorado’s assignability provisions of the Colorado Innovative Motor Vehicle Tax Credit, effective immediately. This will allow Colorado consumers to immediately take advantage of the financial benefit of the current $4,000 state tax credit at the point of sale.
“Now Coloradans can get $4,000 back right away when they buy a GM electric car. Colorado’s priority has been to make cleaner vehicle options more available and accessible for our consumers, which makes today’s news another great step in that direction,” said Governor Jared Polis. “GM has EVs available at local dealerships and more models will be on the way. Now Coloradans will more easily be able to use the state’s tax incentives to make these options more affordable.”
GM joins Nissan in using this provision of Colorado’s zero emission vehicle (ZEV) incentive program. The Chevrolet Bolt EV is GM’s currently available ZEV model for sale in Colorado, and the company has announced plans for additional EVs to hit the market. All ZEV manufacturers receive early action credits for vehicles sold in the state as part of the consensus agreement the state reached in July 2019 with auto manufacturers over ZEV standards. Colorado remains the only state in the country to adapt ZEV regulations with agreement from the auto industry.
The Colorado Innovative Motor Vehicle Tax Credit was created by the legislature with the passage of House Bill 16-1332.