Tuesday, July 16, 2024

Canada budget puts billions for comprehensive investments in electromobility

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The Canadian government has released its 2022 budget, which includes a budget for electromobility. The electromobility budget is not only related to incentives for purchasing electric vehicles, but also related to infrastructure and the supply chain of raw materials for the manufacture of electric vehicles.

The 2022 budget includes Canadian dollars 3.8 billion to implement a strategy for essential minerals used in electric cars. In addition, more than 3 billion Canadian dollars to make electric vehicles “more affordable” through incentives and the construction of a nationwide network of charging stations.

“Protecting our environment and fighting climate change is the right thing to do for the planet, and also the right thing to do for our economy,” said a government release.

Previously, the Canadian government had presented its 2030 Emission Reduction Plan. Under the plan, internal combustion engines will be discontinued for passenger cars and light commercial vehicles by 2035.

Canada has a target of achieving net zero emissions across the economy by 2050. In general, Canada’s average temperature has doubled, and tripled in Northern Canada.

Reducing pollution and taking steps to reduce carbon from the air will be one of the most important endeavors in Canadian history.

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