13:44:23 EDT Mon 16 Mar 2026
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Toyota CDR (CAD Hedged)
Symbol TOYM
Shares Issued 150,000
Close 2026-03-13 C$ 12.10
Market Cap C$ 1,815,000
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Globe says Tesla, rivals told Lotus to import China EVs

2026-03-16 09:37 ET - In the News

See In the News (C-TSLA) Tesla CDR (CAD Hedged)

The Globe and Mail reports in its Monday edition that Lotus, the British sports car brand that sells just one model at low volume in Canada, is aiming to be among the first companies to sell Chinese-made electric vehicles in this country under the federal government's new import quota system. The Globe's Matt Bubbers writes that the brand, known as a cult-favourite maker of lightweight performance cars, is now under the umbrella of Chinese giant Geely, which also owns Volvo and Polestar. The car it is hoping to start shipping to Canada is the Lotus Eletre, a battery-powered "Hyper SUV" made in Wuhan, China, boasting 905 horsepower. It is already listed on dealer websites and is expected to land in Canadian showrooms in the third quarter of 2026. The Lotus Eletre is not -- to state the obvious -- one of the affordable new Chinese EVs many Canadians were hoping to see. In January, Prime Minister Mark Carney struck a "strategic partnership" with Beijing under which Canada will reduce tariffs to 6.1 per cent on a limited number of Chinese-made EVs, down from 100 per cent, in concert with the United States. Prior to the 100-per-cent tariff, carmakers including Volvo, Polestar and Tesla shipped cars to Canada from China.

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