New EV availability commonplace will scale back wait occasions and assist Canadians unlock value financial savings

OTTAWA — Joanna Kyriazis, director of public affairs at Clear Vitality Canada, made the next assertion in response to the federal authorities’s closing electrical automobile availability commonplace:

“With file numbers of Canadians selecting an EV over a fuel automotive in current months, it’s clear that they need electrical automobiles. And right this moment’s new rules, which would require automakers to make an growing proportion of EVs out there on the market en path to 100% by 2035, will make it loads simpler to get behind the wheel.

“Canadians at present drive the least fuel-efficient automobiles on the planet—they usually’re paying the worth on the fuel pump. By making EVs extra out there, the federal authorities is making certain that extra Canadians will be capable to entry hundreds in financial savings.

“Going electrical can save between $30,000 and $50,000 over a ten-year possession interval, even considering the acquisition value, in accordance to a brand new report. Actually, reductions in battery prices in addition to out there rebates imply that some EVs are already cheaper to purchase than fossil-fuelled equivalents, permitting drivers to start out saving the second they drive off the lot. What’s extra, EV availability rules have been proven to chop EV sticker costs even additional by requiring automakers to place reasonably priced fashions available on the market as an alternative of specializing in luxurious fashions. 

“It’s a tried and examined coverage. Each B.C. and Quebec, which lead Canada in EV gross sales, have their very own variations of this coverage, as do 17 U.S. states, representing almost 40% of the U.S. automotive market. It’s no coincidence that, till now, automakers have prioritized sending new EVs to those jurisdictions, leaving many Canadians with fewer choices. The brand new commonplace introduced right this moment is crucial for levelling the enjoying discipline. 

“And as Canada’s EV manufacturing capabilities develop, it is going to additionally be certain that the automobiles we make in Canada can be out there to Canadians who need to purchase them, as an alternative of being all shipped off to states and nations with their very own EV rules in place.

“With transportation emissions liable for 1 / 4 of Canada’s carbon air pollution, and private automobiles making up round half of that, EVs are very important for combating local weather change and defending the well being of Canadians. Greater than 15,300 untimely deaths annually in Canada are linked to air air pollution whereas an evaluation from earlier this yr discovered that the brand new EV rules alone may keep away from as much as 11,000 untimely deaths.

“The federal authorities needs to be applauded for creating these rules in a well timed method. In any case, there is no such thing as a time to waste. EVs are a win-win-win: for our well being, for our local weather, and for our wallets.”

KEY FACTS

• The EV availability commonplace would require automakers to make an growing proportion of zero-emission automobiles out there on the market—20% by 2026, 60% by 2030 and 100% by 2035. 
• Automakers can earn credit by bringing battery-electric, plug-in hybrid electrical, or hydrogen gas cell automobiles into the Canadian market; by buying credit from different automakers that surpassed their very own targets in a given yr; or by investing in public charging infrastructure. 
• A current report from Clear Vitality Canada evaluating well-liked EV fashions with their fuel equivalents finds that going electrical can save a typical Canadian driver $3,800 yearly.
  • As an illustration, selecting a Chevrolet Bolt as an alternative of a Toyota Corolla Hatchback would save $33,600 over a 10-year possession interval (that’s together with the upfront buy value and present rebates). Province-specific financial savings will be downloaded right here.
  • Equally, the electrical model of the Ford F-150, saves $47,000 over 10 years in comparison with its fuel equal. 
  • EV drivers can anticipate half the maintenance- and repair-related prices of an identical fuel automobile, in accordance to Shopper Experiences. 
• One other research discovered that requiring automakers to make sure that 100% of all new automobile gross sales are electrical by 2035 would result in a 20% discount in EV costs as a result of automakers must put reasonably priced fashions available on the market as an alternative of specializing in luxurious fashions.
• Transportation makes up 22% of emissions in Canada, and passenger automobiles make up round half of that.
• Greater than 15,300 untimely deaths annually in Canada are linked to air air pollution. Canada’s federal EV rules will lead to over $90 billion in well being advantages for Canadians over the following 25 years, together with as much as 11,000 prevented untimely deaths, in line with evaluation by the Atmospheric Fund.
• A variety of nations all over the world have launched a model of EV availability necessities, together with China, South Korea, and most not too long ago, the U.Okay.
• The value of lithium-ion battery packs has dropped 14% to a file low of $139/kWh. 
• EV gross sales in Canada proceed to interrupt information, with the most recent Statistics Canada outcomes revealing a 12% electrical market share throughout the nation (a 39% improve on the identical quarter final yr). Globally, gross sales have risen 20% year-on-year. In B.C. (a province that has had EV availability rules in place since 2019), EVs made up greater than 23% of latest automotive gross sales.
• Within the third quarter of 2023, the typical value of a brand new automotive in Canada was $67,817. There are 49 EV fashions at present out there underneath that value level (of the 114 EV fashions at present out there within the Canadian Car Affiliation’s EV Purchaser’s Information). 
• In 2022, the EV provide chain alone attracted 13% of all international direct funding into Canada.
• A research of 42 totally different measures key for the world hitting internet zero by 2050 discovered that EV gross sales are the one space shifting on the proper velocity, with an annual progress fee of 62%. 
• A majority of Canadians (63%) accurately acknowledge that choosing an electrical automobile and a warmth pump is cheaper than selecting fossil-fuel-powered options. 

RESOURCES

Report | A Clear Invoice

Media Transient | Countering frequent myths about electrical automobiles

Ballot | Six in ten Canadians imagine an electrical automobile will finally value them lower than a fuel automotive

Video | How clear vitality makes life cheaper for Canadians

Video | A Zero Emission Automobile Mandate for Canada