Increased Number of Electric Cars in Canada

 Increased Number of Electric Cars in Canada

 

The government has announced a program to increase the number of Electric Vehicles sold in Canada. While proponents of the program are still waiting on the specifics, pro-EV economists and business leaders are expressing new optimism. They believe that the move away from internal combustion vehicles has reached a turning point in Canada. While this transition has been plagued by excuses and delays, it is now being driven by the convergence of various technological and social forces. If successful, this change will result in affordable electric vehicles for Canadians.

EV sales in Canada have steadily increased over the past several years. According to Statista, the country will have a total of 66,815 EVs on the road by 2020. That number is up from 49,830 EVs sold in 2016 to 19,086 in 2017. The total number of EVs sold in Canada will reach 255,000 units between 2010 and 2021.

The Chevrolet Bolt EV is one of the most popular EVs in Canada. The 2022 model starts at $38,198, and a federal government incentive knocks off a further $5,000. However, it is important to keep in mind that the real savings of an EV occur after you buy it. With lower charging costs, your electric vehicle will be a money-saving machine.

The cost of an EV depends on a few factors. While some EVs may be cheaper than a conventional car, they may not have as much range. For example, the Hyundai IONIQ 5 has a lower starting price than the Leaf, but qualifies for federal, provincial and territorial incentives. In addition to federal incentives, buyers can also claim a rebate on the purchase price.

The federal government has set targets for the number of EVs in Canada, and has pledged to invest in charging infrastructure. However, the capacity of this infrastructure will need to increase exponentially to accommodate the growing number of EVs on the road. Towards this goal, the federal government has said it will install 5,000 new charging stations on Trans-Canada Highway, as well as in urban and rural areas.

The federal government has set a goal of reducing greenhouse gases, and has also enshrined this goal into law. But despite all these positives, many Canadians are wary of the cost of insuring an electric vehicle. However, a recent My Choice study shows that the number of searches for electric vehicle insurance and Tesla car insurance has grown dramatically year-over-year. The study also found that 49% of Canadians would be more likely to buy an electric vehicle than they were a year ago. Meanwhile, 32% of Canadians would be interested in a plug-in hybrid.

In recent years, the auto industry has pushed into the electric vehicle segment, making them more affordable and providing longer driving ranges. Still, electric vehicles still cost more than gasoline-powered cars, and the technology behind them is still expensive.

 

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