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There’s no denying that electric vehicles (EVs) can be expensive upfront. Thankfully, there are federal and state incentives like rebates and tax credits to make EVs more financially appealing.

But what state EV incentive programs are in place in New Mexico?

Let’s see what current incentives are available in your area and whether or not you qualify for them.

Last Updated: January 2024

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What EV Incentives Are Available in New Mexico?

New Mexico has no direct incentives for electric vehicles at this time, but there are post-purchase incentives available from utilities and consumer organizations to offset the initial cost of transitioning to EVs. We also update this post regularly, so check back to see if new incentives are added.

Incentives for Purchasing an EV in New Mexico

New Mexico does not offer incentives for the purchase of a new electric vehicle. However, federal incentives are available for many all-electric models both new and used.

Other EV Incentives Offered in New Mexico

There are various post-purchase EV incentives available in New Mexico. These include:

  • El Paso Electric (EPE) gives a $300 rebate for home charging hardware to its residential customers. Low-income households may qualify for up to $2,300 in assistance for purchasing and installing level 2 charging equipment, with various requirements for chargers to qualify.
  • Powering New Mexico (PNM) offers residential customers a $300 rebate for buying a level 2 home charger.
  • Xcel Energy's EV adoption program has a variety of incentives for EV drivers, from purchase rebates or rental rates for home charging equipment to preferential rates for charging and extra assistance for low-income customers.

Visit our EV community on Facebook to connect with other electric vehicle owners in your area and find out if specific offers are available.

Now that you know what electric vehicle incentives are available in New Mexico, what else do you need to know about making the switch to all-electric transportation?

Read our guidance on how to prepare for an EV to make sure the models you’re considering will meet your real-world driving needs!

Frequently Asked Questions

Are there incentives for purchasing an electric vehicle in New Mexico?

No, there are no state-level incentives in place when you purchase an EV in the state of New Mexico. Also, check out our picks for the best deals on EVs.

Are there additional fees for purchasing an electric vehicle in New Mexico?

No, there are no additional fees to pay when you purchase an EV in the state of New Mexico.

Does sales tax apply when I buy an EV in New Mexico?

Sales tax is applied to electric vehicle purchases in New Mexico at the same rate as traditional combustion vehicles. Visit our resource page to find the vehicle sales tax in New Mexico.