Market Trends for EV Charging in Canada
The EV charging market in Canada is growing rapidly as more and more people switch to electric vehicles. There are currently over eight thousand public charging stations across the country, with many more planned in the near future.
Below are some of the key trends in the EV Charging industry in Canada.
Increased Demand for EV Charging Infrastructure
As more Canadians buy electric cars, the demand for EV charging infrastructure is increasing. According to a report by the Canadian Electricity Association, Canada will need to install 10 times more EV charging stations than there are now to keep up with the projected growth in electric vehicle ownership.
Canada is dedicated to achieving its goal of becoming a global leader in zero-emission vehicles (ZEVs) and decarbonizing the transportation sector. The ZEV share of light-duty vehicle sales was 5.6% in 2021, a significant increase from 3.8% in 2020, 3.1% in 2019, and 2.3% in 2018.
To achieve its ambitious goals, the Canadian government has introduced the 2030 Emissions Reduction Plan: Clean Air, Strong Economy. As part of this plan, the government is working on developing a light-duty ZEV sales mandate that sets annual requirements towards achieving 100% ZEV sales by 2035. The mandate includes interim targets of at least 20% by 2026 and at least 60% by 2030.
Expressed as annual new ZEV sales, these objectives would mean approximately:
395,000 new ZEV sales in 2026
1.2 million new ZEV sales in 2030; and
2.0 million new ZEV sales in 2035.
By 2026, there will be around 1.4 million Zero Emission Vehicles (ZEVs) on the road, representing roughly 5% of the total number of light-duty vehicles. This number is expected to increase to approximately 4.6 million by 2030, which would constitute about 16% of the total light-duty vehicles. Furthermore, it is projected that by 2035, there will be approximately 12.4 million ZEVs on the road, accounting for about 40% of the total light-duty vehicles.
Government Investment in EV Charging Infrastructure
The Canadian government recognizes the importance of supporting the transition to electric vehicles (EVs) as part of its overall strategy to reduce greenhouse gas emissions and combat climate change. One of the key ways it is doing this is by investing in EV charging infrastructure across the country.
To this end, the government has committed to investing $2.75 billion in electric vehicle infrastructure, including EV charging stations, over the next five years. This investment is part of the government's larger plan to achieve net-zero greenhouse gas emissions by 2050.
By investing in EV charging infrastructure, the Canadian government aims to make it easier and more convenient for Canadians to adopt electric vehicles. A robust charging network will help alleviate "range anxiety," which is a concern for many EV owners who worry about running out of battery power on long trips. It will also encourage more Canadians to make the switch to EVs by providing them with the necessary infrastructure to charge their vehicles at home, work, and public locations.
Growing Number of Public and Private Charging Stations
In Canada, there are currently 8,249 charging sites with almost 20,000 publicly accessible charging stations available. FLO, a prominent manufacturer and network operator of electric vehicle charging solutions in North America, has deployed more than 75,000 fast and level 2 EV charging stations.
Canada is making progress towards the deployment of 50,000 new chargers, which will be backed by $400 million in investments and $500 million in financing from the Canada Infrastructure Bank. This is in addition to the 34,500 EV chargers that have already been funded by the federal government.
Expansion of EV Charging Networks
As the demand for electric vehicles (EVs) continues to rise in Canada, companies like ChargePoint, Flo, and Tesla Superchargers are expanding their charging networks across the country. By building new charging stations, these companies are helping to address one of the biggest concerns among EV owners - range anxiety.
One of the primary benefits of EV charging networks is that they make it easier for electric vehicle owners to travel long distances without worrying about running out of battery power. With more charging stations available, drivers can confidently plan longer trips and access charging infrastructure when they need it.
ChargePoint, Flo, and Tesla Superchargers are three of the most prominent companies involved in building new EV charging stations in Canada. ChargePoint is a California-based company that operates one of the world's largest EV charging networks. Flo is a Canadian-based manufacturer and network operator of electric vehicle charging solutions. Tesla Superchargers are high-speed charging stations that are exclusive to Tesla vehicles.
In addition to these companies, several other organizations are also working to expand EV charging networks across Canada. This includes public utilities, municipalities, and private companies. By working together, these organizations are helping to create a robust charging network that will be critical to the widespread adoption of electric vehicles in Canada.
Overall, the expansion of EV charging networks in Canada is a positive development for the electric vehicle industry. By making it easier for Canadians to access charging infrastructure, these networks are helping to address one of the biggest barriers to EV adoption and contributing to a more sustainable transportation sector.
Emphasis on high-speed charging technology
Fast-charging technology is becoming increasingly important in Canada as more people adopt electric vehicles and seek convenient charging options. Unlike Level 1 and Level 2 charging, which can take several hours to fully charge an EV, fast-charging technology enables drivers to charge their vehicles in as little as 20-30 minutes.
As a result, many companies are investing in fast-charging technology to meet the growing demand for convenient and efficient charging options. These investments include the deployment of high-speed DC fast chargers, which can deliver up to 350 kW of power to a vehicle's battery.
In addition to the benefits for EV drivers, fast-charging technology also has the potential to support the growth of electric vehicle fleets in Canada. For example, businesses and organizations that operate electric buses, taxis, or delivery vehicles can benefit from high-speed charging to minimize downtime and ensure their vehicles are always ready for use.
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