According to the mandate, all new passenger vehicles and light trucks sold in Canada must be zero-emission by 2035.
EV mandate
It now takes 55 days to sell an electric vehicle in Canada, up from 22 days in the first quarter of 2023.
Several automakers including Toyota and Ford have scaled back their EV production plans.
Developments in the U.S. have substantially increased the risk of any investment that relies on access to the U.S. market.
The government’s electric vehicle mandate could escalate electricity demand by up to 15.3 per cent nationwide.
In Germany, EV sales are in freefall as the cash-strapped government tapers off subsidies.
In Canada, only 6.5 per cent of the 1.5 million new vehicles sold in 2022 were electric.
Electric vehicles have consistently failed to compete with combustion vehicles on performance and cost.
Sales of electric vehicles and hybrids remain relatively small within the scope of total vehicle sales.