Affordability Challenges of Electric Vehicles in Quebec: Exploring Government Incentives and Rising Prices

2023-10-26 00:39:33

Although electric vehicles have gained popularity in the province, fewer and fewer people are able to afford them.

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A year ago, you had to be patient to get one. On average, waiting lists might last up to two years depending on the model.

Now they are back in stock, but they are not being sold due to their very high price which motorists are simply unable to pay in this inflationary context.

“People want an electric vehicle and know that they will be able to save money with an electric vehicle, except that interest rates slow down purchases,” explains Simon-Pierre Rioux, founder and spokesperson for the electric vehicle association. of Quebec.

However, so-called “affordable” electric cars sell for almost $40,000. The most popular models among consumers include the Hyundai Kona, the Tesla Model 3 and the Chevrolet Bolt.

Mr. Rioux maintains, however, that with the two government subsidies of up to $12,000, the electric vehicle remains more affordable than a gasoline vehicle.

“The average price is $66,000 for a gasoline vehicle and $73,000 for an electric vehicle,” says Mr. Rioux. “There is a difference of $7,000, so even if I buy the electric vehicle, with the incentive it will cost less.”

Towards less expensive electric vehicles?

Honda and General Motors announced Wednesday that they are ending their $5 billion project to jointly develop more affordable electric vehicles just a year following announcing the plan.

Mr. Rioux believes that the hope of paying less for an electric vehicle is simply “postponed until later”.

See the interview above.

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