To sustain the current growth rate of electric vehicle (EV) sales in Canada, consultants at Ernst & Young (EY) suggest that at least five years of substantial financial incentives from the federal government and provinces will be necessary. With new mandates aiming for 100% zero-emission vehicle sales by 2035 and a focus on positioning Canada in the global battery supply chain, Prime Minister Justin Trudeau's government has made the transition from fossil fuels to electric transportation a significant economic priority. EY emphasizes the need for ongoing financial support to encourage EV adoption, reflecting on the benefits of EV technology compared to traditional oil-based economies. The recently introduced Electric Vehicle Availability Standard is seen by EY as an indication of policymakers contemplating ways to facilitate and drive the shift towards electric vehicles, acknowledging the transformative potential of EVs in the transportation sector.
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