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Tesla Inc CDRs (CAD Hedged)
Symbol TSLA
Shares Issued 14,850,000
Close 2023-12-19 C$ 23.80
Market Cap C$ 353,430,000
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Globe says Tesla sees bumpy road to electrified future

2023-12-20 07:50 ET - In the News

The Globe and Mail reports in its Wednesday edition that Canadians got a jolt Tuesday when Ottawa released new electric-vehicle regulations. Guest columnist Ashley Nunes writes that the move, called the Electric Vehicle Availability Standard, aims to dramatically accelerate EV sales. Meeting the standard will require EVs to constitute 20 per cent of new vehicles sold by 2026, 60 per cent by 2030 and 100 per cent by 2035. For reference, EV market share has been less than 10 per cent in recent years. The motivation for such action is public health. Traditional gasoline-powered autos produce dangerous toxins, which can harm lungs, worsen medical conditions and, most importantly, contribute to global warming. EVs? Not so much. From the assembly lines to the scrap yard, EVs typically produce less global-warming pollution than gas-guzzlers. However, EVs can cost tens of thousands of dollars more than comparable gas-powered autos. Adjusted for inflation, the first generation of cellphones cost more than $10,000 -- but for the likes of Ford, complying with Ottawa's policies means stimulating demand (via price drops) for a product that, as is, remains unprofitable to make. An electrified future will not be smooth sailing.

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