Canada Announces CA$2.3 Billion Incentives for EV Adoption, Reviews Zero-Emission Target

Canada has announced a CA$2.3 billion EV Affordability Program to incentivize the adoption of electric vehicles. The program offers incentives of over CA$5,000 for battery electric and fuel electric vehicles and CA$2,500 for plug-in hybrids. The vehicles must have a final transaction value of up to CA$50,000 and must be manufactured in countries with which it has free trade agreements. The Canadian Government is also investing in its national EV charging network, with a $1.5 billion investment made through the Canada Infrastructure Bank’s Charging and Hydrogen Refueling Infrastructure Initiative. The government aims to comply with an adjusted goal of 75% of all new vehicles being electric by 2035 and 90% by 2040.