Based on the above analysis, Canada doesn’t look like a promising market to build EVs. At a minimum, the demand for EVs would have to significantly increase, which is only possible with higher gasoline prices and renewed consumer and producer incentives like they have in Europe. The incentives announced last week are unlikely to be enough, especially since the rebates are expected to decline yearly to $2,000 by 2030 from a maximum of $5,000.
