California's new EV incentive gives a leg up to Lucid and Rivian

California's new EV incentive program, MyFirstEV, offers $3,500 rebates for first-time buyers of new EVs priced under $50,000. However, California-based EV manufacturers like Rivian and Lucid are exempt from the price cap, allowing their higher-priced vehicles to qualify. Tesla, which moved its corporate headquarters out of California, is excluded from the exemption and must comply with the price cap.