pCanada's electric vehicle market keeps getting bigger, but that's not necessarily good news for consumers — or the environment./p
TORONTO — Canada's electric vehicle market keeps getting bigger, but that's not necessarily good news for consumers — or the environment.
"We drastically have to figure out how to produce more affordable vehicles," said Rebekah Young, head of resilience economics at Scotiabank. BYD, backed by billionaire investor Warren Buffett, launched a hatchback called the Seagull at the Shanghai auto show in April. It starts at the equivalent of about $14,600 for a 305-km range version.
But Chinese automakers are already gaining ground in Mexico, he said, which will likely lead to a production plant in the next few years that would give them access to the full North American market. "You can erect barriers and that buys you a bit more time, but it doesn't necessarily accelerate, in a meaningful way, innovation."
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