TORONTO, Feb. 25, 2021 – Seven in 10 Canadians who plan to buy a new vehicle within the next five years are likely to buy an electric vehicle (EV) although the lack of a robust charging infrastructure, battery life and range and the purchase price remain persistent concerns,
A new survey by KPMG in Canada also indicates that most Canadians will do that within the next 5 years. The key reason is environmental concerns.
Interestingly, over half of Canadians believe that EVs (Electric Vehicles) could overpower the electrical grid or eventually be to expensive to operate given rising electricity prices.
The main reason Canadians have been holding out is a notion that EVs are not reliable come winter and that limitations on battery life are not suitable for our country’s distance challenges.
For those already inclined to buy an EV, they were motivated by environmental concerns, lower operating costs, tax incentives, and the prospect of reduced insurance premiums. For them, tax incentives were much less of an incentive than the environment or lower operating costs. However, when the question of tax incentives was put to all respondents, 70 per cent said they needed tax and/or automotive company incentives to make them change their mind and buy an EV.
Another issue is four wheel drive which is a necessity in most parts of Canada. This may be answered by Tesla’s upcoming release of The CyberTruck. When Tesla CEO Elon Musk revealed the Cybertruck to the world back in November 2019 in the weeks that followed hundreds of thousands of pre-orders for the Cybertruck poured in. Pre-orders for the Cybertruck a few weeks after the unveiling were trending at a rate of 1 reservation every 2 seconds.
Elon Musk introducing Tesla Cybertruck in November 2019
Further, 59 per cent of Canadians planning to buy an EV said they will buy their own charger. This jumps to 66 per cent in Quebec and is only 50 per cent in B.C. Just over a quarter (26 per cent) have not figured out where to charge it overnight but are hoping their condo building will install chargers “soon” and another 12 per cent plan to charge it at the mall, shopping centre, or office.
kchizz on February 25th, 2021 at 13:42 UTC »
Most rental apartments don't have EV charging, mine sure doesn't. Until that changes the adoption in cities will be limited to rich people
Hologram0110 on February 25th, 2021 at 13:20 UTC »
In 2018 when I got my last vehicle I really wanted a tesla. I tried like hell to make the spreadsheet workout such that it was a good financial choice, but gave up. The car is twice as expensive as a cheap Ford escape. Even if maintenance was free it would take a very long time for me to make up the difference in capital costs, and I likely never would because opportunity costs.
Thankfully some less luxury focused electrics have come out, but their range and feature set is still smaller than I'm comfortable with in small town Ontario, especially in winter.
MSevenzer on February 25th, 2021 at 13:12 UTC »
Running my 2010 car into the ground. Next car will be within 5-10 years and I'm 100% going electric.