NEW YORK — New York Mayor Bill de Blasio announced today that the city has approved $3 billion in state incentives for the use of hybrid cars, a move that is expected to spark new demand for the vehicles and boost sales.
The mayor’s office said that the mayor has also authorized $2 billion in tax breaks for automakers to manufacture hybrid cars in the city.
The city also approved incentives for electric cars, which are expected to be sold in the state as well as other markets.
A report last month by the Institute of Transportation Engineers predicted that hybrid vehicles could be the cheapest and most environmentally friendly alternative to traditional cars by 2035, according to Bloomberg.
“We need to make the case to the American public that this is the best way to go, to get the most bang for our buck and get our transportation system ready for the future,” de Blasio said.
New York will also set up a $10 million incentive fund for the state to purchase and operate a fleet of hybrid vehicles that can be used by public transit.
As part of the incentives, the city will pay a $5,000 tax credit on the purchase of hybrid models, a $2,000 credit on electric vehicles, and a $1,000 incentive on a hybrid that is a hybrid or hybrid hybrid-electric vehicle.
If all of the credits and incentives are applied, New York’s hybrid fleet will be able to provide electric cars with up to 33 miles per gallon, up from 29 miles per hour.
The incentives are part of an aggressive new push to increase the use and availability of hybrid and electric vehicles.
About half of all new hybrid vehicles sold in America are electric, and the percentage of hybrids on the road is growing, the New York Times reported.
According to the institute, about 20% of the vehicles sold each year in the United States are hybrid vehicles, which typically are equipped with electric motors.
But in order to meet demand, electric vehicles are expected be the most fuel efficient vehicles available, and in the future, they will be the majority of the fuel economy vehicles on the market, said Peter Hotez, a professor of transportation studies at the University of California, Berkeley.
Hotez is also a senior research scientist at the Institute for Energy Research.