Canada Slashes Tariffs on Chinese EVs—Lotus Eletre Price Could Halve

The Canadian government recently announced it will reduce the additional tariff on Chinese-made electric vehicles (EVs) from 100% to 6.1%, while introducing an annual import quota of 49,000 units. Vehicles imported within this quota will benefit from the Most-Favored-Nation (MFN) tariff rate. The move, unveiled during the Canadian Prime Minister’s visit to China, is seen as a significant step forward in China-Canada economic and trade relations. Lotus Cars welcomed the decision, noting that its all-electric SUV, the Eletre—the only Chinese EV currently sold in the North American market at over USD 80,000—is expected to see its price in Canada drop by approximately 50%, potentially driving exponential sales growth. Lotus already operates six authorized dealerships across Canada, offering both internal combustion engine and electric models, positioning the company to swiftly capitalize on this policy shift and convert it into increased market share.