(Source – Bloomberg.com)
In a significant move towards a greener automotive future, Canada is poised to unveil groundbreaking regulations this week that mandate all electric vehicles sold in the country to be zero-emission by 2035, according to credible news reports.
The forthcoming regulations, anticipated to be named the Electric Vehicle Availability Standard, aim to ensure that automakers meet the rising demand for zero-emission vehicles. A senior government official, speaking on the condition of anonymity, revealed to the Canadian Broadcasting Corporation (CBC) that the initiative is driven by concerns over foreign nations, particularly the United States, exerting undue influence on the supply of zero-emission vehicles. The official emphasized the urgency of securing a self-sufficient market for electric vehicles within Canada. The official announcement is slated for Tuesday, as reported by various sources.
Aim to channel the supply of Electric Vehicle
The Toronto Star, citing another senior government source, shed light on the core objectives of the regulations. Apart from reducing waiting times for electric vehicles (EVs), the regulations aim to channel the supply of EVs specifically towards Canadian markets.
According to insiders, the proposed regulations will mandate zero-emission vehicles to constitute 20 percent of all new car transactions by 2026, escalating to 60 percent by 2030, and reaching 100 percent in 2035.
Sources indicate that the regulations will place obligations on automakers, with credits awarded based on the number of EVs sold. The Canadian Broadcasting Corporation reported that the allocation of credits will be contingent on how closely vehicles align with the zero-emissions standard. Furthermore, automakers stand to earn credits by contributing to the development of EV charging infrastructure, with early credits available for those introducing EV models before the official implementation of the regulations in 2026. If companies surpass or fall short of their prescribed targets, a system allowing the buying and selling of credits between companies will be in place.
A greener future within its borders
As Canada strides towards an emission-free automotive landscape, it parallels the Biden administration’s vision for the United States. In April, the Biden administration projected that around 67 percent of new light-duty passenger cars sold in the U.S. could be electric by 2032, marking a substantial commitment to cleaner transportation. However, last week, the House voted to block proposed regulations that aimed to facilitate the realization of this 2032 benchmark.
It’s noteworthy that several states in the U.S., including New York and California, have already enacted similar mandates to accelerate the adoption of electric vehicles. As the global automotive landscape shifts towards sustainability, Canada’s impending regulations signal a robust commitment to fostering a cleaner, greener future within its borders.
