Chinese state media Xinhua News Agency reported that Canadian Prime Minister Carney announced a new strategy for the development of electric vehicles, including the relaunch of car purchase subsidies, on the 5th local time, and stated that Canada will cooperate with China to promote the domestic production and export of electric vehicles.
The Xinhua report from Ottawa stated that Canada will launch a five-year, 2.3 billion Canadian dollar (6.646 billion RMB) "Affordable Electric Vehicle Program" to provide subsidies to relevant consumers. The Canadian government will also implement stricter greenhouse gas emission standards with the goal of achieving a 90% electric vehicle adoption rate by 2040.
In addition, the Canadian government will allocate more than 3 billion Canadian dollars (8.668 billion RMB) to help the automotive industry transition and develop, invest 1.5 billion Canadian dollars (4.334 billion RMB) to expand the national electric vehicle charging network infrastructure, and encourage enterprises to invest in clean technology and the electric vehicle sector through the implementation of tax reduction policies.
The report quoted a statement released by the Prime Minister's Office, saying that Canada is committed to promoting large-scale investment in the electric vehicle sector, including strengthening cooperation with China to diversify Canada's automobile export markets and making Canada one of the global leaders in the electric vehicle sector.
Currently, more than 90% of cars made in Canada and 60% of Canadian-made auto parts are exported to the United States, while U.S. auto tariffs are threatening Canada’s auto manufacturing industry and 125,000 directly related jobs.
From January 14th to 17th, Carney visited China and signed a series of agreements with China, including a drastic reduction in Chinese electric vehicle tariffs from 100% to 6.1%, with an annual import quota of 49,000 vehicles.
At the time, the Canadian government stated it would, within three years, promote the establishment of joint ventures by Chinese enterprises in Canada to drive the development of Canada's domestic electric vehicle supply chain.