Only 8.1 per cent of the 1.7 million new vehicles sold in Canada in 2023 were electric.
electric vehicles
Electric vehicles are vastly more expensive coming off North American assembly lines than in China.
A large part of our economy is organized around making and using gasoline-powered cars.
Tesla's electric vehicle sales are down 20 per cent in the first quarter this year compared to the same time last year.
Aggressive government timelines for EV adoption clash with sluggish metal and mineral production.
According to the mandate, all new passenger vehicles and light trucks sold in Canada must be zero-emission by 2035.
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.