China has paved the way for a shift in the Canadian electric vehicle (EV) market, particularly concerning prices. Under the new trade deal with Canada, a quota has been set allowing 49,000 Chinese-made EVs into the Canadian market with a reduced tariff rate of 6.1%, a significant drop from the previous duty of 100% set in 2024. Prime Minister Mark Carney has announced a gradual increase in the import ceiling, expected to reach 70,000 within five years. Moreover, a portion of the quota is designated for EVs priced at $35,000 or less, reflecting Canada’s growing appetite for affordable EV options.
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