The Federal Minister of Transport, Omar Alghabra, announced in a press conference earlier today that Canada had reached a turning point in the fight against climate change. In fact, the Incentives for Zero-Emission Vehicles (iZEV) program has helped more than 100,000 drivers and businesses to buy or lease a zero-emission vehicle.
The program has been granting $5,000 to each individual willing to purchase or rent a battery-electric, plug-in hybrid, or hydrogen vehicle. During the conference, we also learned that this initiative has contributed to the reduction of greenhouse gas emissions by up to 352,000 tonnes annually.
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In order to achieve the new exclusive zero-emission passenger vehicles objective by 2030, the Canadian government intends to do its part for the transition with a series of measures and rules. In other words, the $5,000 credit should be around for a while. The program has cost $587 million since its introduction, including the additional funding of $287 million announced last fall.