Analysts suggest there could be unintended consequences for Canada setting EV sales regulations and that China and its auto manufacturing base could come out the winner, all at the expense of Canada's auto industry.Visitors check China's BYD ATTO 3 at the IAA motor show in Munich, Germany.
He and other analysts suggest there could be unintended consequences for setting such targets and warn that China and its auto manufacturing base could come out the winner, all at the expense of Canada's auto industry. Environment Minister Steven Guilbeault has said industry should have no problem meeting these targets, and during the mid-December announcement noted that the Canadian marketplace is already experiencing "a rapid shift toward zero-emission vehicles."Environment and Climate Change Minister Steven Guilbeault on Power and Politics regarding his government's new regulations to increase the number of electric vehicles in Canada.this month, new zero-emission vehicles made up 12.
U.S. President Joe Biden sits in a Corvette during a tour of the Detroit Auto Show, in September 2022 as Mary Barra, CEO of General Motors, looks on. Yet Niel Hiscox, president of Clarify Group Inc., a Canadian-based automotive research and advisory firm, said even with the best will, and all the investment in the world, legacy automakers would still be challenged to reach those targets.
Meanwhile, the U.S. Environmental Protection Agency has proposed that by 2032, two thirds of new vehicles sold should be electric. It's part of a wave of Chinese electric car exporters that are starting to compete with Western and Japanese brands in their home markets, bringing fast-developing technology and low prices."All the BYD cars we're going to import, or Tesla models there from Shanghai that we're going to import, we're going to directly benefit the Chinese objective for global market domination in EVs," Volpe said.
Source: Car News Wire (carnewswire.net)