Dec 19, 2023
By Bob Komsic
Fans of fossil-fueled cars, trucks, SUVs have only 12 more years to buy a new one.
New federal regulations being finalized this week will effectively end such sales.
Ottawa is setting up a system in which each automaker will have to demonstrate that a minimum percentage of vehicles they offer for sale are fully electric or longer-range plug-in hybrids.
It’ll start with 20% in three-years and to 23% in 2027.
After that the percentage of EVs will start rising faster; 34% by 2028, 43% the following year and 60% in 2030.
It keeps climbing until hitting 100% in 2035.
In the first three months of this year, about one-in-10 new vehicles registered were electric, suggesting such sales need to double within three-years.
Automakers will receive credits.
Fully electric models will mean one credit.
Plug-in hybrids will receive a partial or full-credit; depending on how far they can travel on a single charge.
Carmakers, who sell more EVs than required to meet each year’s target, can either keep the credits to meet targets in future years, or sell them to those that did not sell enough.
The other option for automaker that fall short of sales requirements is to invest in public fast-charging stations.