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EVs are getting easier to find — but with price tags out of reach for many Canadians

EVs are getting easier to find — but with price tags out of reach for many Canadians

BNN Bloomberg
Monday, October 23, 2023 12:35:16 PM UTC

Canada's electric vehicle market keeps getting bigger, but that's not necessarily good news for consumers — or the environment.

Manufacturers are leaning heavily on electrified SUVs, trucks and large cars that mean high prices and profits for the automakers.

The trend has helped push the average price for an EV to almost $73,000, according to Canadian Black Book, making it well out of reach for most households. That's true even with signs of downward pressure from Tesla price drops.

Experts say cheaper options will be crucial if Canada is to transition away from the combustion engine. They say Chinese automakers could fill the gap if established players don’t step up.

Read full story on BNN Bloomberg
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