• 3 minutes e-car sales collapse
  • 6 minutes America Is Exceptional in Its Political Divide
  • 11 minutes Perovskites, a ‘dirt cheap’ alternative to silicon, just got a lot more efficient
  • 13 hours GREEN NEW DEAL = BLIZZARD OF LIES
  • 5 days Does Toyota Know Something That We Don’t?
  • 5 days World could get rid of Putin and Russia but nobody is bold enough
  • 23 hours America should go after China but it should be done in a wise way.
  • 7 days China is using Chinese Names of Cities on their Border with Russia.
  • 8 days Russian Officials Voice Concerns About Chinese-Funded Rail Line
  • 8 days OPINION: Putin’s Genocidal Myth A scholarly treatise on the thousands of years of Ukrainian history. RCW
  • 8 days CHINA Economy IMPLODING - Fastest Price Fall in 14 Years & Stock Market Crashes to 5 Year Low
  • 7 days CHINA Economy Disaster - Employee Shortages, Retirement Age, Birth Rate & Ageing Population
  • 8 days Putin and Xi Bet on the Global South
  • 8 days "(Another) Putin Critic 'Falls' Out Of Window, Dies"
  • 9 days United States LNG Exports Reach Third Place
  • 9 days Biden's $2 trillion Plan for Insfrastructure and Jobs
China’s EV Growth Set To Explode in 2024

China’s EV Growth Set To Explode in 2024

China leads the global electric…

Canada Sees “Unprecedented” Number Of People Claiming EV Rebates

Federal electric vehicle rebates in Canada went 153% over their originally intended budgets, a new report out last week unveiled.

Ottawa had shelled out $759 million on EV rebates by March of last year, according to a report by True North. The "unprecedented" number of people claiming the rebates pushed Canada's government well over its allocated spending. 

Analysts in the Audit Of Incentives For Zero Emission Vehicles Program said: “The uptake of the program was higher than expected and funding was an ongoing concern.”

“The program’s main risk is not having sufficient funding to meet the demand,” they continued.

In Canada, beginning in 2019, anyone who bought an EV below the price of $45,000 is allowed to claim a rebate of up to $5,000. The government then moved that threshold up to $70,000. 

Liberals first claimed the program would cost $300 million, True North reported.

But an audit of the spending found far different results: “The program exhausted its original funding of $300 million and received two subsequent funding top-ups of $287 million and $172 million to continue the program until March 31, 2022 as planned."

136,940 buyers in total have claimed rebates and Canada has extended the budget for the program to $1.6 billion until March 2025. The country is trying to fulfill environment minister Steven Guilbeault's plan to make all vehicles sold by 2035 electric or hybrid.

ADVERTISEMENT

The cost for such a program amounts to $100 billion a new analysis found. 

By Zerohedge.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage



Leave a comment

Leave a comment

EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News