Canadian Prime Minister Mark Carney on Thursday announced a new national strategy to develop the electric vehicle (EV) sector, introducing measures including funding support, financial subsidies and tax incentives to accelerate industry growth. Canada will also strengthen cooperation with China to promote domestic EV production and exports. Under the strategy, Canada will launch a five-year, C$2.3 billion ($1.7 billion) electric vehicle affordability program to provide subsidies for eligible consumers. The government will also implement stricter greenhouse gas emission standards, aiming to achieve a 90% EV adoption rate by 2040.
Additionally, the Canadian government will allocate more than C$3 billion ($2.2 billion) to support the transformation of the automotive industry, invest C$1.5 billion ($1.1 billion) to expand the country’s EV charging infrastructure, and introduce tax reduction policies to encourage corporate investment in clean technologies and the electric vehicle sector. [China Star Market, in Chinese]