The EV base price must now be below $55,000, up $10,000.
SUVs and trucks must be sold under $60,000.
The Canadian government basically puts its money in its mouth. At the end of March, he explained how he would ban ICE sales by 2035 and achieve net zero emissions by 2050. The final details outline incentives for electric vehicles in the future.
Canada extends its zero-emission vehicle (iZEV) incentive program
Beginning April 25, 2022, Canadian new-vehicle consumers will be able to consider electric vehicles with increased base prices from the previous program. It will also make concessions for popular vehicle body styles.
the Canadian government website details how electric vehicles will benefit from the new plan starting today:
“A car must have a base model manufacturer’s suggested retail price of less than $55,000. More expensive versions of these vehicles, up to a maximum manufacturer’s suggested retail price of $65,000, are also eligible.
“Large zero-emission vehicles (for example, sport utility vehicles, minivans and pickup trucks) must have a base model manufacturer’s suggested retail price of less than $60,000. More expensive versions of these vehicles, up to a maximum of $70,000, are also eligible.
The Honorable Omar Alghabra, Minister of Transport, said: “Helping Canadians transition to a zero-emission vehicle is a win-win: it keeps our air clean, helps people save money on fuel, while positioning Canada as a leader. on building and fueling these cars. Today’s announcement aims to ensure that Canadians have the options they need, whether you want to make your next family car or your commute to work a zero-emission vehicle.
As we know, many automakers have strategically priced their EVs to fall below the previous $45,000 threshold. Additionally, EVs are not getting cheaper than expected, which means we are frankly concerned that automakers will rapidly raise prices for EVs.
If you’re looking for a new electric vehicle, reserving one now (for possible delivery in a few months) could be a smart financial decision.