Given that EV batteries have an average lifetime of 8 to 15 years, B.C.’s role as an early adopter of EVs creates a significant economic and environmental opportunity: to secure a regional leadership role — and first-mover advantage — in recycling metals and minerals from EV batteries at end-of-life, closing the loop and minimizing the need for raw resource extraction.
The Government of Canada expects that the measures outlined in the 2030 Emissions Reduction Plan,
together with complementary climate actions from the provinces and territories, municipalities, the
financial community, Indigenous Peoples, innovators, and businesses – as well as with the acceleration
of clean technology innovation and deployment – will lead to further emission reductions by 2030.
Electrification of automobiles is the biggest change we've seen in the auto industry over the past 100 years. But Canadians have a guarded enthusiasm towards electric vehicles. While only four per cent of Canadians currently own an EV, nearly half (49 per cent) are more likely to buy an EV today compared to a year ago or pre-pandemic, according to KPMG in Canada's 2022 Auto Survey.
The survey reveals that although there is interest in ZEVs among Canadians, increased communications efforts will be required to overcome some of the concerns about ZEVs (e.g. charging, reliability, costs to run and maintain), and the general lack of knowledge and exposure to these vehicles among the Canadian public.
From September through October 2021, Deloitte surveyed more than 26,000 consumers in 25 countries to explore opinions regarding a variety of critical issues impacting the automotive sector, including the development of advanced technologies. The overall goal of this annual study is to answer important questions that can help companies prioritize and better position their business strategies and investments.
Uncertainty has been the rule rather than the exception for the modern automotive industry. Automotive technology megatrends are quickly disrupting the mobility ecosystem. How will advancements in Connected car, Autonomous vehicle, Sharing/Subscription, and Electrification (CASE) technologies impact the entire automotive value chain, and how can these transformative advancements be embraced and capitalized on?
EVs have become increasingly common across the world, and are seen as a disruptive force by many industries. Even though Canada ranks 10th in EV adoption, it is influenced by political, technological, economic and environmental factors. They influence consumers’ cost-benefit perceptions and ultimately dictate whether and when they’ll choose to buy electric. These factors can be seen as either enabling or inhibiting EV adoption.