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Canadians are buying more EVs despite higher interest rates. But why?

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Higher interest rates have made everything more expensive. But when it comes to electric vehicles (EVs), those higher prices haven’t translated into lower sales.

Canadians bought more than three times as many EVs last year than they did in 2019.

The federal government has made it its goal that all new vehicles sold in Canada must be zero emissions by 2035. But dropping Tesla sales have raised questions about stability in the EV market — and whether sales of EV vehicles will continue at the current pace.

Experts also raise concerns about a lack of infrastructure preventing many people from making the switch.

Global’s Nathaniel Dove crunched the numbers to see how EV sales have fared and what that means for Ottawa’s plan.

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News and politics
Tags
global news, electric vehicle sales, electric vehicles

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