The Parliamentary Budget Officer says research shows that the relative price of electric vehicle ownership needs to come down another 31 per cent if carbon emission targets were to be met without imposing strict regulations phasing out the use of gas-powered vehicles.
Yves Giroux told VOCM Open Line with Paddy Daly that without penalties imposed on manufacturers, market conditions would have to shift dramatically if more consumers were to move naturally toward EVs.
“In the absence of regulations, the cost of electric vehicles would need to drop significantly, or gas and diesel powered cars and vehicles would need to increase, or a combination of both.”