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EV/AV Report: July 12, 2021

Toronto, Ontario — In this week’s EV/AV Report, New Brunswick launches a provincial rebate program for electric vehicle buyers. Meanwhile, on the opposite end of the country, a new study finds British Colombian’s are hungrier than ever for EVs. The yearning for a greener future isn’t unique to Canada alone, however, as Stellantis announces its plans to intensify electrification.

New Brunswick’s new program

A provincial program shifted into drive today with the launch of a rebate initiative for New Brunswickers who purchase eligible electric vehicles.

Starting today, people who buy or lease eligible new or used electric vehicles from a dealer in the province will be eligible for a rebate under the New Brunswick Electric Vehicle Incentive Program.

Financial support for the three-year program, which comes from the Climate Change Fund, will be approved annually. For fiscal 2021-22, $1.95 million was approved.

People who purchase or lease new qualifying battery electric vehicles and long-range plug-in hybrid electric vehicles may receive up to $5,000. People who purchase or lease new short-range plug-in hybrids may receive up to $2,500.

Those who buy used battery electric vehicles may receive up to $2,500 and purchasers of used plug-in 

NB Power will initially administer the rebate program, which will provide rebates retroactively to individuals and organizations who purchase vehicles. Later this fall, dealers will provide the rebate directly to those purchasing qualifying vehicles.

Consumers who buy an eligible new electric vehicle in New Brunswick can also apply to the federal government’s Zero-Emission Vehicles (iZEV) Program, resulting in up to $10,000 in combined rebates.

People who receive a provincial electric vehicle rebate are also eligible for a rebate of up to $750 for the purchase and installation of a Level 2 home charging station.

New Brunswick will be using Transport Canada’s list of eligible vehicles.

Stellantis Intensifies Electrification

Stellantis recently announced it will make four electric vehicle platforms and will aim to have more than 40 percent of its U.S. sales coming from hybrids and EVs by 2030.  

The company says it plans to invest more than €30 billion through 2025 in electrification and software. 

The automaker says electrification is not a “one size fits all” plan. Each of the company’s 14 iconic brands will offer its own unique electrified solutions in a way that enhances the DNA of each brand.

“Our electrification journey is quite possibly the most important brick to lay as we start to reveal the future of Stellantis just six months after its birth, and now the entire company is in full execution mode to exceed every customer’s expectations and accelerate our role in redefining the way the world moves,” said Tavares. “We have the scale, the skills, the spirit and the sustainability to achieve double-digit adjusted operating income margins, lead the industry with benchmark efficiencies and deliver electrified vehicles that ignite passion.”

B.C. Buyers Greedy for EVs

As the province starts to open up again from COVID-19 restrictions, B.C. Hydro found that two-thirds of people in the province are considering buying an electric vehicle (EV) over the next five years.

B.C. Hydro predicts that there will be a higher demand than ever for EVs this year, which could lead to an “EV bottleneck.”

“The EV market is at a potential tipping point, as demand is on the rise and will likely continue to grow long-term,” said a report about the findings released Wednesday. (SOURCE Vancouver Sun)

The hydro company recommends that if people want to get an EV they should plan ahead for one by getting on waiting lists and to consider cheaper options like used EVs. They also pointed out the benefits on splurging on an EV like an 80 percent decrease in gas prices over a year and drivers can save roughly $100 a month in maintenance costs. 

Those looking to purchase an EV can get up to $8000 in rebates from the federal government.

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