Canada announces new electric vehicle strategy to strengthen cooperation with China

Ottawa, February 5th (Xinhua) - Canadian Prime Minister Carney announced a new strategy for the development of electric vehicles on the 5th, providing strong support to this field through measures such as funding, financial subsidies, and tax incentives. At the same time, Canada will also cooperate with China to promote the domestic production and export of electric vehicles in Canada.

According to this strategy, Canada will launch a five-year, CAD 2.3 billion (CAD 1 is approximately USD 0.73) "Electric Vehicle Affordability Program" to provide subsidies to relevant consumers. The Canadian government will also implement stricter greenhouse gas emission standards, with the goal of achieving a 90% penetration rate of electric vehicles by 2040.

In addition, the Canadian government will allocate over 3 billion Canadian dollars to help the automotive industry transform and develop, invest 1.5 billion Canadian dollars to expand the national electric vehicle charging network infrastructure, and encourage companies to invest in clean technology and electric vehicles through tax reduction policies.

According to a statement released by the Prime Minister's Office of Canada, Canada will be committed to promoting large-scale investment in the electric vehicle sector, including strengthening cooperation with China to achieve diversification of the Canadian automotive export market and build Canada into one of the global leaders in the electric vehicle industry. Currently, over 90% of Canadian made cars and 60% of Canadian made parts are exported to the United States, and US car tariffs are threatening Canada's automotive manufacturing industry and 125000 directly related jobs.