OTTAWA — It is already more cost effective over the long term to buy an electric vehicle than a gas-powered model, but the savings must get substantially higher if Canada is to meet its EV sales targets, the parliamentary budget office concluded in a
new analysis.
The report compares the purchase price of a new vehicle, along with federal and provincial rebates for electric vehicles and the operating and maintenance costs over eight years. Still, the PBO says it's not enough to drive people into electric cars as fast as the governments want them to go. "After all, higher upfront costs are a barrier for many cash-strapped families, even if they recognize an EV would save them money over time," she said.
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