Canada’s EV rebate is here. How do charging costs compare with gas?
Global News
The newly launched consumer rebates for electric vehicles aim to help make the purchase more affordable — but how does the cost of powering one compare with a gas vehicle?
The newly launched consumer rebates for electric vehicles aim to help make the purchase more affordable — but how does the cost of powering one compare with a gas vehicle?
Customers can now get up to $5,000 for a fully electric vehicle, and $2,500 for a plug-in hybrid for qualifying vehicles priced up to $50,000. That price limit doesn’t apply if the vehicle is made in Canada.
The rebates can also be processed at the point of sale, like at a dealership, to reduce extra steps for the consumer.
Ottawa kick-started the new incentive program on Feb. 16 as one of the five pillars of the federal government’s plan to “transform” the Canadian auto sector.
“The electric vehicle still tends to be a slight premium over gasoline vehicles. This may simply disappear over time and it’s better than it used to be, but $5,000 at the time of purchase of the vehicle is not an insignificant amount,” says Mark Marmer, a master electrician and owner and founder at Signature Electric.
There are also plans to build 8,000 new charging stations on highways and roads across the country, and Prime Minister Mark Carney suggested details will come shortly about efforts to double the country’s electricity capacity to meet the expected rise in demand and improve affordability.
So what does the full cost picture look like?
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The newly launched consumer rebates for electric vehicles aim to help make the purchase more affordable — but how does the cost of powering one compare with a gas vehicle?
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