Consultants at Ernst & Young (EY) suggest that sustaining the current growth pace in electric vehicle (EV) sales in Canada will require at least five years of substantial financial incentives from the federal and provincial governments. The Canadian government, led by Prime Minister Justin Trudeau, aims to achieve 100% zero-emission vehicle sales by 2035 and is actively promoting Canada's role in the global battery supply chain as part of a transition from fossil fuels to electrified transportation. Jason Clifton, a partner for EY based in Calgary, highlights the superiority of EV technology over traditional oil-based economies and notes that the recently introduced Electric Vehicle Availability Standard indicates lawmakers' consideration of consumer-driven shifts in the transportation sector. The consultants emphasize the necessity of ongoing financial support to encourage the adoption of electric vehicles and address the challenges associated with the transition away from conventional fuel sources.
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