13:59:55 EDT Wed 01 Apr 2026
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Volkswagen CDR (CAD Hedged)
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Close 2026-03-31 C$ 9.41
Market Cap C$ 752,800
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Globe says Tesla, rivals hear EVs making comeback

2026-04-01 09:06 ET - In the News

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

The Globe and Mail reports in its Wednesday edition that rising fuel costs and the prospect of Chinese electric vehicles entering the Canadian market are reigniting consumer interest in EVs, with data showing a surge in sales and on-line search interest. The Globe's Mariya Postelnyak writes that after months of stagnation, searches for EV insurance quotes jumped 40 per cent year over year in March. Search volume for EVs on on-line car retailer Clutch, meanwhile, grew 94 per cent from January to the end of this month. While the upfront costs of purchasing, maintaining and insuring a vehicle remain the biggest deterrent for a majority of EV-interested Canadians, higher fuel prices resulting from the Iran war are changing those considerations. "EVs are becoming more accessible, they're becoming more affordable," said Rates.ca's Daniel Ivans. "And as gas prices hit the level where they're at now, consumers who are on a budget, they're almost forced to consider other options." With fuel prices reaching a national average of $1.78 a litre this week, it costs about 32 per cent more to fill up a gas-powered vehicle than just a month ago, and some estimates show that EVs save drivers about $3,000 a year in equivalent fuel costs.

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