OTTAWA – A new report from Canada’s Parliamentary Budget officer has found that while consumers could be saving thousands of dollars by switching to electric vehicles, costs will have to come down even more to reach the Liberals’ goals by 2030.

The PBO examined the Liberals sales targets that will require automakers to gradually phase out internal combustion engine (ICE) vehicles until all new vehicles are zero-emission vehicles (ZEV) by 2035. Auto manufacturers who don’t meet those targets have to pay into creating charging infrastructure.

Despite being a cheaper option in the long-term, incentives aren't enough to get Canadians to buy electric vehicles{ai:summary}<p>A report from Canada's Parliamentary Budget Officer indicates that while consumers stand to save significantly by adopting electric vehicles, prices need to decrease further to meet the Liberal government's objectives for 2030 and beyond. </p><p>The report outlines a phased transition from internal combustion engines to zero-emission vehicles by 2035, with penalties for manufacturers failing to comply. #economy</p>

Owning an EV can save thousands, but price incentive not big enough to meet Liberal targets: PBO

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