Budget Watchdog Says EV Costs Need to Drop 29 Percent to Meet 2030 Sales Target

The 2023 Chevrolet Bolt EV and EUV assembly line is seen at the General Motors Orion Assembly in Lake Orion, Mich, on June 15, 2023. The Canadian Press/AP-Carlos Osorio

The Parliamentary Budget Office says that the ownership costs of zero-emission electric vehicles (ZEV) would still need to decrease by 29 percent to meet the government’s sales target of 60 percent by 2030.

The Liberal government announced in 2023 that auto manufacturers would be required to ensure the market share of ZEVs sits at 20 percent in 2026, 60 percent in 2030, and 100 percent by 2035. Automakers are issued credits by the Canadian Environmental Protection Act for the EVs they sell.