Consumers to Lose $17.4 Billion With Gas-Powered Vehicle Phase Out by 2035: Government Analysis

A plan to make all new vehicles sold in Canada zero-emission electric by 2035 would cost consumers $17.4 billion from 2024 to 2050, government documents show. The Regulatory Impact Analysis Statement, released Dec. 21, revealed that consumers can expect the switch to zero-emission electric vehicles (ZEVs) to cost $54.1 billion with a return of $36.7 billion in savings. That would equal a net cost of $17.4 billion. “The Amendments are estimated to have incremental ZEV and home charger costs of $54.1 billion from 2024 to 2050 for consumers who switch to ZEVs in response to the Amendments,” reads the statement. “These same consumers are expected to realize $36.7 billion in net energy savings over the same time period.”...