Electric Vehicle Costs Need to Fall 31 Percent to Meet Ottawa’s 2030 Sales Target: PBO

The relative ownership costs of zero-emission electric vehicles (ZEV) would need to fall by one-third to meet the federal government’s 2030 EV sales target, according to a new report from the Parliamentary Budget Officer (PBO). “Assuming that preferences, technology and policies remain unchanged from a baseline scenario without the standard, we estimate that the relative ownership cost of battery‑electric vehicles (BEVs) would need to decrease by 31 percent to meet the ZEV sales target of 60 percent in 2030,” said the report published Aug. 29. The federal government announced last year that auto manufacturers would be required to ensure the market share of ZEVs sits at 20 percent in 2026, 60 percent in 2030, and 100 percent by 2035....