While there has been speculation that technology giant Apple Inc AAPL will release an electric vehicle, the company has not delivered on this initiative.
That doesn’t stop Apple from offering a new incentive for consumers who have an electric vehicle of their own.
What Happened: Apple released the Apple Card in 2019 and it has become a staple for the company’s consumers with high-yield savings accounts and rewards.
The card has also been the subject of news in 2023 with partner Goldman Sachs Group GS rumored to be looking to move on from the venture.
Holders of the Apple Card have a new promotion that will pay them 10% cash back on electric vehicle charging. As shared by MacRumors, the new promotion from Apple Card is good for up to $6,000 worth of electric vehicle charging, representing a total reward of up to $600.
Under the promotion, Apple Card users can also get 10% cash back for gas purchases.
The purchases can be done with Apple Pay, a virtual card number in apps or using the physical Apple Card. The promotion runs through Oct. 5, 2023.
After Oct. 5, Apple Card users can earn 3% by using Apple Pay at Exxon or Mobil gas stations.
Why It’s Important: Apple regularly launches promotions pertaining to its cash-back offerings for Apple Card holders.
The newest incentive rewards vehicle drivers, including those with electric vehicles.
The state of California recently announced additional incentives for owners of electric vehicles, with an EV Charge Card issued to qualified users to offer free charging for up to a certain amount.
Read Next: How To Earn $500 A Month From Apple Stock
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