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What is a vehicle retrofit?

Retrofitting is a mechanical operation where the petrol/diesel engine and fuel tank on an ICE vehicle are removed and replaced with an electric motor and battery, thereby turning into an electric vehicle. The electric motor used can just as well run directly off a battery or indirectly off a fuel cell (hydrogen).

Do you need an inspection to register a vehicle in New Brunswick?

Before registering your vehicle in New Brunswick, it must pass a safety inspection at an authorized inspection station. These inspections ensure your vehicle meets provincial safety and emissions standards. Inspections must be conducted: Every year for passenger vehicles and light trucks.

What is the vehicle transfer tax in New Brunswick?

Taxes are collected by Service New Brunswick (SNB), on behalf of Finance and Treasury Board, during the transfer of vehicle ownership transaction. How much tax will I pay? You will pay 15% PVT on the fair value of the vehicle.

What is the vehicle retrofit program in New Brunswick?

The New Brunswick Vehicle Retrofit Program provides financial assistance for some of the costs of accessibility features for vehicles. This program is a partnership between the New Brunswick Department of Social Development and Ability New Brunswick.

What is the capital assistance program?

The Capital Assistance Program is a U.S. Treasury program that provides capital injections in exchange for mandatory convertible preferred stock and warrants to bank holding companies.