Up to $5,000 business or lease incentives coming for EVs

The government is unveiling its new national automotive strategy aimed at protecting Canada’s auto sector and jobs in the face the U.S. President Donald Trump’s desire to move vehicle production to the U.S. Ottawa is also trying to jump-start the country’s battery-powered vehicle industry.

Carney expects his new emissions system will lead to 75 per cent of new cars sold in Canada being electric by 2035 — an ambitious goal, but still less than the previous mandate that Carney is ditching.

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Carney announced the Liberal government is also launching a new $2.3-billion program to offer consumers and businesses purchase or lease incentives of up to $5,000 for EVs and up to $2,500 for plug-in hybrids.

Plug-in vehicles must be under $50,000 to qualify and be made by countries Canada has free trade agreements with, which would exclude any vehicles made in China. The price cap will not apply to Canadian-made vehicles.