The Japan Times - Carney scraps Canada EV sales mandate, affirms auto sector's future is electric

EUR -
AED 4.186669
AFN 72.960328
ALL 94.255884
AMD 419.657752
ANG 2.041067
AOA 1045.383602
ARS 1680.892093
AUD 1.651929
AWG 2.052008
AZN 1.913325
BAM 1.955421
BBD 2.296555
BDT 140.252845
BGN 1.927611
BHD 0.429917
BIF 3386.544306
BMD 1.140004
BND 1.475414
BOB 7.879785
BRL 5.913311
BSD 1.140279
BTN 107.024401
BWP 15.496679
BYN 3.30706
BYR 22344.083799
BZD 2.293216
CAD 1.618424
CDF 2587.80951
CHF 0.921923
CLF 0.026713
CLP 1051.357438
CNY 7.756418
CNH 7.755346
COP 3917.282691
CRC 517.699764
CUC 1.140004
CUP 30.210113
CVE 110.243171
CZK 24.262144
DJF 203.0587
DKK 7.474626
DOP 66.997028
DZD 151.905131
EGP 56.438305
ERN 17.100064
ETB 183.840968
FJD 2.583363
FKP 0.862661
GBP 0.863365
GEL 3.015325
GGP 0.862661
GHS 12.857018
GIP 0.862661
GMD 83.22065
GNF 9991.065557
GTQ 8.699316
GYD 238.643215
HKD 8.939771
HNL 30.509093
HRK 7.528582
HTG 149.031145
HUF 353.84878
IDR 20329.696244
ILS 3.42235
IMP 0.862661
INR 107.588075
IQD 1493.710792
IRR 1567562.878891
ISK 144.005292
JEP 0.862661
JMD 179.585229
JOD 0.808237
JPY 184.334105
KES 147.584718
KGS 99.69345
KHR 4577.113792
KMF 494.761744
KPW 1026.004247
KRW 1749.194087
KWD 0.352877
KYD 0.950258
KZT 553.252881
LAK 25028.154117
LBP 102113.759801
LKR 383.302597
LRD 207.708894
LSL 18.743371
LTL 3.366136
LVL 0.689578
LYD 7.319551
MAD 10.692136
MDL 20.217972
MGA 4822.981574
MKD 61.520302
MMK 2393.38216
MNT 4081.491631
MOP 9.21128
MRU 45.507189
MUR 54.389633
MVR 17.612951
MWK 1977.295212
MXN 19.902084
MYR 4.660108
MZN 72.849706
NAD 18.743371
NGN 1572.1685
NIO 41.961875
NOK 11.31827
NPR 171.241845
NZD 2.018942
OMR 0.4383
PAB 1.140329
PEN 3.888247
PGK 5.003987
PHP 69.87317
PKR 317.346675
PLN 4.288579
PYG 6959.621972
QAR 4.156377
RON 5.2414
RSD 117.397462
RUB 89.916291
RWF 1669.949912
SAR 4.282071
SBD 9.17926
SCR 16.010321
SDG 684.002074
SEK 11.085424
SGD 1.474943
SHP 0.851128
SLE 28.273098
SLL 23905.323832
SOS 651.702402
SRD 42.730735
STD 23595.786842
STN 24.495257
SVC 9.977025
SYP 126.007064
SZL 18.732373
THB 37.917109
TJS 10.553473
TMT 3.990015
TND 3.379794
TOP 2.744857
TRY 53.151613
TTD 7.749364
TWD 36.335928
TZS 2989.873238
UAH 51.181341
UGX 4185.079563
USD 1.140004
UYU 45.773145
UZS 13696.948775
VES 707.661057
VND 29982.112445
VUV 136.744544
WST 3.175479
XAF 655.83002
XAG 0.019311
XAU 0.00028
XCD 3.080919
XCG 2.055002
XDR 0.81676
XOF 655.827144
XPF 119.331742
YER 272.033552
ZAR 18.769954
ZMK 10261.407882
ZMW 20.540383
ZWL 367.080912
  • CMSC

    -0.0860

    21.96

    -0.39%

  • BCE

    -0.3150

    22.885

    -1.38%

  • BCC

    0.0600

    79.82

    +0.08%

  • NGG

    -0.6600

    82.76

    -0.8%

  • GSK

    0.2900

    52.18

    +0.56%

  • JRI

    0.1900

    12.77

    +1.49%

  • RBGPF

    0.0000

    61.3

    0%

  • CMSD

    -0.1400

    21.79

    -0.64%

  • RYCEF

    0.7000

    18.7

    +3.74%

  • BTI

    0.1090

    62.589

    +0.17%

  • RIO

    -0.9900

    94.12

    -1.05%

  • VOD

    0.0750

    13.935

    +0.54%

  • BP

    -0.5650

    37.155

    -1.52%

  • RELX

    0.3400

    31.26

    +1.09%

  • AZN

    3.2800

    188.96

    +1.74%

Carney scraps Canada EV sales mandate, affirms auto sector's future is electric

Carney scraps Canada EV sales mandate, affirms auto sector's future is electric

Prime Minister Mark Carney on Thursday cancelled a mandate for all vehicles sold in Canada to be electric by 2035, while announcing major investments to support the auto industry's EV transition.

Text size:

In unveiling his plan to transform the sector, Carney said Canada's auto industry needed to be ready for a future where EVs are dominant, and where US President Donald Trump's tariffs have made cross-border vehicle production unworkable.

Carney's decision to scrap EV mandates also marked another departure from policies backed by his climate-focused predecessor, Justin Trudeau.

Trudeau's government had mandated that 20 percent of vehicles sold this year be electric, with a 60 percent target by 2030 and the 100 percent target for 2035.

Those targets were applauded by some environmental groups but faced criticism from automakers, as well as concern that Canada had nowhere near the charging infrastructure needed to support full electrification across a vast landmass.

Carney argued his new automotive strategy would prioritize "results and solutions."

His plan includes a CAN$5,000 (US$3,700) subsidy for individuals who choose to buy an EV, CAN$1.5 billion to improve charging infrastructure, and CAN$3 billion "to help the auto industry adapt, grow, and diversify to new markets," his office said.

"We know where the auto industry is headed. We're going to support that transition," Carney told reporters.

Progress in the global EV market has been patchy.

Trump scrapped tax credits for EV purchases last year, jarring automakers that invested heavily in electrification during Democrat Joe Biden's presidency.

The European Union in December also proposed scrapping a planned 2035 ban on new combustion-engine vehicles.

Carney said his goal was 75 percent EV sales by 2035, and a 90 percent target by 2040.

The Global Automakers of Canada, an industry group, praised Carney for providing "greater clarity" on the government's electrification plans, including "a commitment to aggressively build out the charging infrastructure."

Since taking office last year, Carney has also scrapped Trudeau's carbon tax on individual households and advanced plans to build a new oil pipeline from Alberta to the Pacific coast -- infuriating environmental groups.

Asked Thursday if he still considered Canada a leader in the fight against climate change, Carney said: "Absolutely."

– 'Serious liability' –

Canada's auto industry supports half a million jobs, and concern about its future has intensified since Trump returned to office last year.

The president's broad approach on trade with Canada has shifted, but his administration has maintained a fairly consistent message on autos, insisting it wants to see vehicles made exclusively inside the United States.

Carney on Thursday said "there's no greater symbol of how closely the Canadian and American economies have been intertwined than automobiles."

Parts cross the US-Canada border up to eight times during production, but Trump's auto tariffs are threatening the viability of such integration.

"That trade relationship that once was a great strength has now become a serious vulnerability," Carney said.

Since April, Canadian-made vehicles have faced a 25 percent tariff on their non-US components, a levy Canada insists violates the existing North American free trade agreement, known as the USMCA.

USMCA revision talks are set for this year.

"Our objective is to remove all tariffs in the auto sector," Carney said, but stressed Canada's industry needed to start planning for an entirely domestic production chain.

Canada has large deposits of the critical minerals needed for EV battery production and says it wants to develop an end‑to‑end production chain, from mining to mineral processing to vehicle battery production.

M.Matsumoto--JT