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Automotive Insights - Canadian EV Information and Analysis Q4 2021
- Zero Emission Vehicle (ZEV) trends in Canada remain strong and in 2021, 1 out 20 new vehicles registered in Canada was a ZEV.
- Share of ZEV climbed to 5.6% up from 3.8% in 2020.
- Total ZEV volume increased by 58% y/y, and Battery Electric Vehicles (BEV) have grown 51% y/y.
- Plug-in Hybrid Electric Vehicles (PHEV) have grown nationally by 73% y/y.
- British Columbia leads the way with adoption of electrification, and ZEVs account for 13.0% of all new light vehicles for 2021 in the province.
National Enhanced Fuel Type Trend
The combined volume of light vehicles of all electrification types (including EV/PHEV/HEV/FCEV (xEV) grew 66% in 2021, when compared to 2020. Likewise, hybrid EV (HEV) increased 74% or +41,394 units, Fuel Cell EV (FCEV) increased 102 units, BEV 51% or 20,197 units and PHEV increased 73% or 12,000 units. The combined xEV penetration now stands at 11.8%, up from 7.6% in 2020. ICE vehicle share of Industry saw its largest decline, where ICE share now stands at 88.2% a 4.2 percentage point drop from 2020.
This article was published by S&P Global Mobility and not by S&P Global Ratings, which is a separately managed division of S&P Global.
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