An electric vehicle (EV) is a car propelled by one or more electric motors, using energy stored in one or more rechargeable batteries.
In New Mexico, electric vehicles (EVs) are subject to specific regulations and incentives designed to promote their use and address environmental concerns. The state offers various tax credits and rebates to encourage the purchase and use of EVs. For instance, the New Mexico Sustainable Building Tax Credit includes provisions for EV charging infrastructure. Additionally, there are utility rate reductions for EV charging during off-peak hours, and some utilities offer rebate programs for home charger installations. New Mexico also has an Electric Vehicle Road User Fee, which is an annual fee for EV owners to help fund road maintenance, as EVs do not contribute to gas tax revenues. The state is actively working on expanding its EV charging infrastructure to support the growing number of electric vehicles on the road. It's important to note that EVs must comply with the same registration, safety, and insurance requirements as traditional vehicles.