Trending growth in ZEVs and EVs

Government incentives and legislation are affecting the market and promoting zero-emission vehicles (ZEVs) including electric vehicles (EVs).

For example, in British Columbia, the CleanBC Specialty-Use Vehicle Incentive and Commercial Vehicle Pilot Programs recently received a $31 million boost in funding through B.C.’s economic recovery plan in response to COVID-19. This is in the broader context of $227 million that the Province of B.C. reports it has committed to a variety of programs intended to promote zero-emission ZEVs. The most recent announcements are two-fold and provide:

1. Increased rebates for organizations purchasing specialty-use ZEVs, such as small, medium and heavy-duty passenger buses, airport and port service vehicles, transport trucks, motorcycles, cargo e-bikes, and low-speed utility trucks under the Specialty-Use Vehicle Incentive; and
2. Increased rebates to organizations for the purchase and infrastructure (e.g. charging requirements) to pilot or deploy medium, heavy-duty or very large ZEVs as part of the Commercial Vehicle Pilot Program.

The goals of these government programs are lofty and include making ZEVs more affordable for consumers at the time of purchase and over time with savings on fuel and maintenance. At the same time, these incentives are intended to encourage organizations in B.C. to make investments that support job growth and fight climate change.