2024 heralds rise of EVs
Toronto Star|January 13, 2024
Increasingly, carmakers are producing them, consumers are buying them and regulations governing them are kicking in
 WILLIAM CLAVEY
2024 heralds rise of EVs

If you’re still skeptical about the fact that electric vehicles (EVs) will soon dominate the Canadian automotive landscape, perhaps the data will convince you.

As we closed off the 2023 model year, EV adoption had once again increased nationwide. According to information collected by S & P Global Mobility, an auto market research company, market share for zero-emission vehicles (ZEVs) in Canada — this includes battery-electric vehicles, plug-in hybrids (PHEVs) and hydrogen fuel cell vehicles — had surpassed 13 percent by the third quarter of 2023.

Of course, such numbers were driven by heavily subsidized provinces, such as Quebec (22.8 percent of the market) and British Columbia (26.4 percent market share), but other provinces, unlikely ones such as the Yukon (10.4 percent) and Prince Edward Island (9.3 percent), also showed impressive growth. Even Ontario, one of the toughest places to sell EVs in Canada due to the lack of incentives and a struggling charging infrastructure, saw its EV market share grow from 7.2 percent to 8.7 percent.

As if none of this was a convincing indicator that Canadians want their cars to be electric, Tesla ended its year with 1.81 million cars sold worldwide, a fairly sizable increase versus 2022, when 1.57 million sold. Meanwhile, Chinese giant BYD closed off Q4 2023 with 520,000 ZEVs sold, beating the record for ZEV sales in a single quarter, and is now the top EVmaker in the world.

2024 will see more EV growth. We’ll also be witnessing further announcements of investments in battery factories from carmakers, as well as the deployment of even more zero-emission vehicle models.

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