Government of Canada commits $437M to EV related initiatives in Fall Economic Statement 2020

The Government of Canada is continuing its commitment to help make electric vehicles (EVs) more affordable and to establish a coast-to-coast network of EV chargers.

In the Fall Economic Statement 2020, the government set aside $150 million to be used over the next three years to continue to expand EV charging infrastructure across Canada. For the fiscal year 2021-2022, a total of $20 million will be spent, before growing to $65 million in each of the following two years.

“These investments in infrastructure for zero-emission vehicles will help increase confidence that charging and refuelling stations are available and conveniently located where and when they are needed.”

Since 2016 the government has spend more than $226 million constructing 433 charging and fuelling stations. More than 800 are currently under construction, not including a recent announcement for 99 new EV chargers coming soon to the Maritimes.

When it comes to the iZEV rebate program, the government has committed another $287 million to continue offering up to $5,000 off the purchase of a qualifying zero emission vehicle. The funding will continue until the end of the 2022 fiscal year.

The extra money for the popular rebate program came just in time, as the account was getting close to empty. Originally funded with $300 million in May 2019 that was planned to last three years, Canadians burned through most of it within the first 18 months.

Canada Fall Economic Statement 2020 ZEV

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