Canada plans to invest billions in electromobility

The Canadian government has presented its 2022 budget, which also includes several investments in the area of ​​electromobility. It is not just about buying incentives and expanding infrastructure, but also about the supply chain of raw materials.

3.8 billion Canadian dollars (about 2.8 billion euros) will flow into the implementation of Canada’s first strategy for critical minerals for use in electric cars, among other things. The details of the production of raw materials are not yet known. More than 3 billion Canadian dollars (2.2 billion euros) will also be provided to make electric vehicles more affordable and build a national network of charging stations.

This includes $1.7 billion (€1.25 billion) over five years to expand incentives for the zero-emissions vehicle purchase reward program through March 2025 and $547.5 million for the introduction of a new purchase incentive program for medium-duty (€400 million over four years). and heavy duty electric commercial vehicles.

According to the government in Ottowa, investing in a clean economy is an important pillar of the budget. “Protecting our environment and fighting climate change is right for the planet and also for our economy,” it says. Among other things, incentives are planned for the development of clean technologies and for the capture, use and storage of carbon dioxide.

The Canadian government introduced its 2030 emissions reduction plan last week. Not only does this reaffirm the decision to phase out combustion engines for passenger cars and light commercial vehicles in 2035, but it also includes interim goals. The plan’s announcement had already mentioned an amount of 1.7 billion Canadian dollars for purchase subsidies, which are now included in the budget.

In addition, $400 million (286 million euros) is to be spent on charging stations – with the aim of expanding the network by 50,000 charging stations. In addition, the Canada Infrastructure Bank will invest $500 million (€358 million) in charging and refueling infrastructure for zero-emissions vehicles.
canada.approx