The China Mail - Carney scraps Canada EV sales mandate, affirms auto sector's future is electric

USD -
AED 3.672504
AFN 65.000368
ALL 79.60134
AMD 362.536449
ANG 1.790365
AOA 918.000367
ARS 1514.503978
AUD 1.400168
AWG 1.8
AZN 1.70397
BAM 1.702398
BBD 2.01149
BDT 122.644384
BGN 1.683441
BHD 0.376463
BIF 3002.654829
BMD 1
BND 1.276233
BOB 9.812421
BRL 5.142041
BSD 0.998738
BTN 95.698307
BWP 13.543979
BYN 3.021108
BYR 19600
BZD 2.008617
CAD 1.39985
CDF 2311.000362
CHF 0.822497
CLF 0.024299
CLP 959.460396
CNY 6.69765
CNH 6.703907
COP 3159.072116
CRC 446.794621
CUC 1
CUP 26.5
CVE 95.978587
CZK 21.197204
DJF 177.847413
DKK 6.508104
DOP 58.945902
DZD 134.064499
EGP 52.246159
ERN 15
ETB 163.132872
EUR 0.870604
FJD 2.215904
FKP 0.746534
GBP 0.74691
GEL 2.603861
GGP 0.746534
GHS 11.505418
GIP 0.746534
GMD 73.503851
GNF 8780.084432
GTQ 7.621535
GYD 208.948079
HKD 7.84505
HNL 26.810289
HRK 6.559704
HTG 130.530531
HUF 317.150388
IDR 17812.1
ILS 3.03663
IMP 0.746534
INR 95.935504
IQD 1308.35183
IRR 1374600.000352
ISK 121.190386
JEP 0.746534
JMD 157.705532
JOD 0.70904
JPY 156.880385
KES 129.329329
KGS 87.450384
KHR 4047.525787
KMF 428.00035
KPW 900.000318
KRW 1386.040383
KWD 0.30816
KYD 0.832311
KZT 446.516081
LAK 22379.771075
LBP 89435.000218
LKR 330.574052
LRD 172.781477
LSL 16.23702
LTL 2.95274
LVL 0.60489
LYD 6.343735
MAD 9.462593
MDL 17.552335
MGA 4329.546938
MKD 53.553554
MMK 2099.833711
MNT 3597.142387
MOP 8.069983
MRU 40.178439
MUR 47.570378
MVR 15.450378
MWK 1731.818775
MXN 17.228804
MYR 4.083704
MZN 63.910377
NAD 16.23702
NGN 1331.730377
NIO 36.749793
NOK 9.410376
NPR 153.117465
NZD 1.735659
OMR 0.385359
PAB 0.998738
PEN 3.37024
PGK 4.445315
PHP 62.910375
PKR 276.819167
PLN 3.79885
PYG 5920.703312
QAR 3.65052
RON 4.582404
RSD 102.180441
RUB 84.084084
RWF 1467.119293
SAR 3.757625
SBD 8.000512
SCR 14.034038
SDG 601.503676
SEK 9.829604
SGD 1.276204
SHP 0.747524
SLE 24.650371
SLL 20969.491881
SOS 570.744658
SRD 37.945504
STD 20697.981008
STN 21.325673
SVC 8.739174
SYP 13002.000254
SZL 16.231884
THB 33.323038
TJS 9.213126
TMT 3.51
TND 2.937894
TOP 2.40776
TRY 48.767038
TTD 6.779823
TWD 31.780367
TZS 2646.559603
UAH 44.62123
UGX 3939.591766
UYU 40.161901
UZS 11824.868347
VES 847.485104
VND 26022
VUV 117.955747
WST 2.750287
XAF 571.078855
XAG 0.015096
XAU 0.000228
XCD 2.70255
XCG 1.799974
XDR 0.707052
XOF 571.078855
XPF 103.808156
YER 236.550363
ZAR 16.26987
ZMK 9001.203584
ZMW 19.630065
ZWL 321.999592
SSP 5712.013969
MXV 1.953264
  • RBGPF

    -1.6900

    68.3

    -2.47%

  • RYCEF

    0.7100

    20

    +3.55%

  • CMSC

    0.0400

    20.71

    +0.19%

  • RIO

    -0.6700

    97.37

    -0.69%

  • NGG

    -0.8000

    76.8

    -1.04%

  • CMSD

    0.0000

    20.45

    0%

  • GSK

    -0.8400

    50.22

    -1.67%

  • VOD

    -0.5700

    16.95

    -3.36%

  • RELX

    -0.9700

    33.41

    -2.9%

  • BTI

    -0.1900

    55.83

    -0.34%

  • BCE

    -0.2200

    22.06

    -1%

  • BP

    -0.8400

    44.58

    -1.88%

  • BCC

    0.1600

    75.69

    +0.21%

  • JRI

    -0.0600

    11.55

    -0.52%

  • AZN

    -0.0600

    166.08

    -0.04%

Carney scraps Canada EV sales mandate, affirms auto sector's future is electric

Carney scraps Canada EV sales mandate, affirms auto sector's future is electric

Prime Minister Mark Carney on Thursday cancelled a mandate for all vehicles sold in Canada to be electric by 2035, while announcing major investments to support the auto industry's EV transition.

Text size:

In unveiling his plan to transform the sector, Carney said Canada's auto industry needed to be ready for a future where EVs are dominant, and where US President Donald Trump's tariffs have made cross-border vehicle production unworkable.

Carney's decision to scrap EV mandates also marked another departure from policies backed by his climate-focused predecessor, Justin Trudeau.

Trudeau's government had mandated that 20 percent of vehicles sold this year be electric, with a 60 percent target by 2030 and the 100 percent target for 2035.

Those targets were applauded by some environmental groups but faced criticism from automakers, as well as concern that Canada had nowhere near the charging infrastructure needed to support full electrification across a vast landmass.

Carney argued his new automotive strategy would prioritize "results and solutions."

His plan includes a CAN$5,000 (US$3,700) subsidy for individuals who choose to buy an EV, CAN$1.5 billion to improve charging infrastructure, and CAN$3 billion "to help the auto industry adapt, grow, and diversify to new markets," his office said.

"We know where the auto industry is headed. We're going to support that transition," Carney told reporters.

Progress in the global EV market has been patchy.

Trump scrapped tax credits for EV purchases last year, jarring automakers that invested heavily in electrification during Democrat Joe Biden's presidency.

The European Union in December also proposed scrapping a planned 2035 ban on new combustion-engine vehicles.

Carney said his goal was 75 percent EV sales by 2035, and a 90 percent target by 2040.

The Global Automakers of Canada, an industry group, praised Carney for providing "greater clarity" on the government's electrification plans, including "a commitment to aggressively build out the charging infrastructure."

Since taking office last year, Carney has also scrapped Trudeau's carbon tax on individual households and advanced plans to build a new oil pipeline from Alberta to the Pacific coast -- infuriating environmental groups.

Asked Thursday if he still considered Canada a leader in the fight against climate change, Carney said: "Absolutely."

– 'Serious liability' –

Canada's auto industry supports half a million jobs, and concern about its future has intensified since Trump returned to office last year.

The president's broad approach on trade with Canada has shifted, but his administration has maintained a fairly consistent message on autos, insisting it wants to see vehicles made exclusively inside the United States.

Carney on Thursday said "there's no greater symbol of how closely the Canadian and American economies have been intertwined than automobiles."

Parts cross the US-Canada border up to eight times during production, but Trump's auto tariffs are threatening the viability of such integration.

"That trade relationship that once was a great strength has now become a serious vulnerability," Carney said.

Since April, Canadian-made vehicles have faced a 25 percent tariff on their non-US components, a levy Canada insists violates the existing North American free trade agreement, known as the USMCA.

USMCA revision talks are set for this year.

"Our objective is to remove all tariffs in the auto sector," Carney said, but stressed Canada's industry needed to start planning for an entirely domestic production chain.

Canada has large deposits of the critical minerals needed for EV battery production and says it wants to develop an end‑to‑end production chain, from mining to mineral processing to vehicle battery production.

B.Chan--ThChM