Electric vehicle sales around the world have been growing exponentially over the last few years. That’s good news for the environment. It also means potential financial opportunities for countries that produce these cars and parts. But is Canada already behind in the electric vehicle (or EV for short) production race? Rebekah Young, Head of Inclusion and Resilience Economics at Scotiabank, and Economist John Fanjoy just released a new report on the subject. They’re our guests this episode and will explain why the transition to EVs is so important, what might be holding us back and some potential solutions policy makers can implement.
Key moments this episode:
1:29 — Rebekah breaks down the crux of her latest report on EV production
1:48 — What exactly is this EV race? What’s the prize and who are the players?
2:31 — Why the transition to EVs is so important
3:55 — Some context: What commitments Canada has already made on the EV front
5:08 — What is an S-shaped innovation curve and why might that not apply to EVs?
6:46 — Some practical issues that might be slowing down Canadians adoption of EVs
9:27 — Why Canada might be building cars that people want today, but can’t afford tomorrow
10:39 — The surprising difference between EV models available to Canadians vs the rest of the world
11:22 — Is there a risk that only the wealthy can make the switch the EV if we stay on our current path?
12:30 — How can prices of EVs be brought down to a more accessible level?
15:27 — John and Rebekah’s final thoughts on what we can do to make sure we do what's right for climate goals and the economy
Perspectives