Electric vehicles market

Electric vehicle (EV) sales in Canada have witnessed a remarkable surge over the years, with significant growth from under 9,000 units sold in 2017, to an impressive figure of over 98,000 units in 2022. This surge represents an outstanding average growth rate of 67% for the same period, reflecting the increasing popularity and acceptance of EVs among Canadian consumers.

According to data from the Canada Energy Regulator (CER), the year 2021 saw a total of 86,032 new EVs registered in the country. Data extrapolated from this indicates that approximately 40,000 new EVs were registered in Canada in 2022, illustrating the continued momentum in the adoption of EVs.

While the growth in new EV registrations experienced a slight dip in 2020 due to the impact of the COVID-19