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Business

Komal Bhattar

Wall Street Loves These 2 Canadian Electric Vehicle Manufacturers

Solo GP Canada electric vehicle

Electric Vehicle (EV) sales in Canada recovered significantly last year from the pandemic-induced dip. According to the IHS Markit report, Zero Emission Vehicle (ZEV) trends in Canada are strong, with 1 out of 20 new vehicles registered in Canada being ZEV in 2021. Also, the combined volume of light vehicles of all electrification types (including EV/PHEV/HEV/FCEV (xEV) grew 66% year-over-year in 2021.

Canada has a progressive rate for EV sales with 10% by 2025, 30% by 2030, and 100% by 2040; currently, they are at 3.5%. Moreover, Canada is fast expanding its EV charging network, which should boost the EV industry.

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