In 2009, a forum of multi-government policy in the context of Electric Vehicle market Initiatives was launched in Canada. The initiative was aiming to advance the forum goal in the stationing of electric vehicles across the world. The initiative has been collaborating with agendas like security in the energy sector, expansion of financial growth, and creating awareness in issues related to the environment.
After all, the goal of an electric vehicle is to be environment by the reduction in CO2 as compared to Autonomous vehicles, where the focus is more on reducing accidents and helping the handicaps to be self-reliant.
In 2017, the total of the Canadian market for hybrid & electric cars was recoded as $802million in comparison to the US and Mexican markets, the revenue growth was recorded as $20,001 m and $112.9 m respectively. The annual growth rate (CAGR) calculated from the total revenues for Canada, the US, and Mexico are 16.5%, 0.7%, and 13.4% respectively over the period from 2013 and 2017.
As per the provincial electric car association, Quebec and Ontario are the leading player in Canada’s hybrid and electric car market due to hydropower being the source for low-cost electricity generation, rebate in the sale from the government, and new legislation for selling several electric and hybrid cars.
As the competition between these two cities is relatable, Ontario took the lead for the higher number of sales in electric vehicles due to the EV incentives being introduced as a generous way for customers to come in front and use the new technology.
The vehicle also needs support for incorporating supply equipment which has been taken care of by Vancouver city. Even the fast charger networks to be provided on the national highway system and also the access to be provided coast-to-coast.
A rebate program also has been launched in 2012 to purchase plug-in hybrid (PHEVs) cars with a battery size of 4KWh and 1,000 CAD for other types of hybrid electric vehicles. Along with supporting the purchasing scheme among the buyers, Quebec also implements a Zero-emission vehicle mandate, keeping the environmental factors to be considered for plug-in hybrid and electric cars.
The goal has been supported to achieve an increase of zero-emission by 2020. The other region like Ontario also focused on increasing the price cap for the electric vehicle rebate program for models which are expensive.
In my opinion, Canada is not just proving itself to be a progressive country with initiatives such as incentives for EV but encouraging customers to handle the change with expansions in increasing the fast charging networks providing an opportunity to be an entrepreneur and also intelligently using the natural resources.
Source:- Marketline; Statista (Canada-Hybrid & Electric Cars)