Canada Unveils New Policy: C$2.3 Billion in EV Subsidies and Stricter Emissions Standards

The Canadian government recently unveiled a new automotive policy aimed at accelerating the adoption of electric vehicles (EVs) and mitigating the impact of U.S. tariffs. The policy includes stricter greenhouse gas emission standards and launches a five-year, C$2.3 billion "Affordable Electric Vehicle Program" to provide consumer purchase incentives. This strategy seeks to boost domestic EV production and benefit automakers such as General Motors and Toyota, which operate manufacturing facilities in Canada. The move is expected not only to support Canada’s emissions reduction targets but also to enhance the competitiveness of its automotive industry in the North American market.