Carney announces the new plan
Saying his government is going to focus on what it can control, Prime Minister Mark Carney laid out his plan to transform the auto sector in Canada.
According to a release, the government will reward “the production of made-in-Canada vehicles and harness [Canada’s] world-class capabilities in artificial intelligence and technology expertise to build the cars of the future.”
So, what does that mean?
For a start Carney will repeal the Electric Vehicle Availability Standard that required the number of new EVs sold in Canada to reach 100 per cent by 2035.
But to ensure Canada is on the path to grow EVs’ share of the car market to 75 per cent by 2035 and 90 per cent by 2040, the Liberal government is bringing back its shuttered EV incentive.
The $2.3 billion, five-year program will give individuals and businesses up to $5,000 when they buy battery electric and fuel cell EVs, and up to $2,500 for plug-in hybrids.
EVs made by countries that Canada has a free trade agreement with are eligible for the incentive if they have a transaction value up to $50,000, but that cap will not apply to Canadian-made EVs and plug-in hybrids.
