In a landmark shift, electric vehicles (EVs) outsold gasoline-powered cars in Europe for the first time in December of last year. Over 300,000 EVs were purchased, representing a 50% year-over-year increase, driven by the availability of more affordable models. While hybrids still lead in sales, the growth rate of EV registrations is significantly higher, narrowing the gap. This trend signals a notable transition in the European car market, with gas car registrations declining substantially.
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In a recent trade agreement, Canada and China have agreed to reduce tariffs on certain goods to benefit citizens of both nations. China will lower tariffs on Canadian agricultural products, while Canada will decrease tariffs on electric vehicles (EVs) from China. Initially, tariffs on Chinese EVs will drop significantly, with a quota allowing a limited number of vehicles under most-favored-nation terms, though this quota is expected to grow over time. This agreement presents an opportunity for Canadians to purchase more affordable, innovative EVs while boosting Canadian agricultural exports. To maximize the environmental benefits of this trade deal, Canada could invest in solar energy solutions like agrivoltaics and home solar carports to power the growing number of EVs.
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John Q. Hosedrinker