Canada’s EV rebates returning, sales mandate ending
BNN Bloomberg
The federal government is launching a new electric vehicle consumer rebate, and replacing the contentious EV sales mandate with new emissions standards, as part of a new strategy for the Canadian auto sector.
In a bid to make it more affordable for Canadians to purchase lower-emission vehicles, the government is launching a new five-year $2.3 billion EV affordability program, that will be available to consumers as of Feb. 16.
The program will offer individuals and businesses purchase or lease incentives of up to $5,000 for battery electric and fuel EVs, and up to $2,500 for plug-in hybrid models (PHEVs).
“The future of the auto industry is increasingly electric and connected,” Prime Minister Mark Carney said, unveiling of his government’s transformation plans at a parts manufacturing facility in Woodbridge, Ont.
“To remain competitive and realise our potential, we must develop the entire value chain for next-generation vehicles.”
The rebates will only be available for vehicles imported from a country that has a pre-existing free-trade deal with Canada, and that cost less than $50,000. These parameters mean the coming allowance of a small number Chinese EV’s that caused acrimony between Carney and Ontario Premier Doug Ford won’t qualify for this benefit. There will be no price cap on Canadian-made vehicles, and the government estimates the rebates could result in an additional 840,000 new EVs hitting the road.
Japan plans to start releasing oil from its stockpiles on Monday to soften the shock from the U.S.-Israeli war on Iran, a stark reminder of the oil crisis half a century ago that prompted Tokyo to create reserves.
Warner Bros emerged as the biggest winner at the Academy Awards on Sunday, though the mood was clouded by its pending US$110 billion sale to Paramount Skydance, a deal reshaping Hollywood’s studio landscape.
Every day more than $4 billion worth of goods cross the United States’ borders with Canada and Mexico – U.S. auto parts headed for car factories in northern Mexico, cartons of Mexican avocados bound for California supermarkets, Canadian aluminum destined to become cans of Campbell Soup.
Prime Minister Mark Carney met Monday with Prime Minister Keir Starmer in London, and while both remarked the world has become a more challenging place since their first meeting a year ago, neither named a specific issue.
Conservative Leader Pierre Poilievre has unveiled a new auto plan that aims to secure tariff-free access to the U.S. market.
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Iran’s Supreme Leader Ayatollah Mojtaba Khamenei issued his first statement on the war on Thursday, saying Iran should close the Strait of Hormuz and keep attacking its Gulf Arab neighbors as leverage. Khamenei also called on people in Gulf countries to “shut down” U.S. bases, saying promised U.S. protection is “nothing more than a lie.”
Iran’s Supreme Leader Ayatollah Mojtaba Khamenei issued his first statement on the war on Thursday, saying Iran should close the Strait of Hormuz and keep attacking its Gulf Arab neighbors as leverage. Khamenei also called on people in Gulf countries to “shut down” U.S. bases, saying promised U.S. protection is “nothing more than a lie.”
Iran’s Supreme Leader Ayatollah Mojtaba Khamenei issued his first statement on the war on Thursday, saying that the leverage of closing the Strait of Hormuz should be used and that Iran will keep attacking its Gulf Arab neighbors. Khamenei also called on Gulf countries to “shut down” U.S. bases, saying promised U.S. protection is “nothing more than a lie.”
Iran’s Supreme Leader Ayatollah Mojtaba Khamenei says that the leverage of closing the Strait of Hormuz should be used and that Iran’s attacks on Gulf Arab neighbours will continue. His first statement since his appointment was read on state television Thursday by a news anchor.
Prime Minister Mark Carney is again heading overseas, this time to Norway to observe NATO Cold Response exercises as Canada deepens ties with Nordic countries.