Canada announces new EV strategy to transform auto industry

Canadian Prime Minister Mark Carney on Thursday announced a new electric vehicle (EV) strategy to transform the country's auto industry, with consumer incentives and corporate tax cuts.

Under the strategy, the Canadian federal government will launch a five-year, 2.3-billion-Canadian-dollar "EV Affordability Program," according to a news release from the prime minister's official website.

The program will offer consumers purchase or lease incentives of up to 5,000 Canadian dollars (about 3,658 U.S. dollars) for battery-electric and fuel EVs, while those opting for plug-in hybrids can receive up to 2,500 Canadian dollars.

The government has also earmarked over 3 billion Canadian dollars to help the auto industry adapt, grow, and diversify to new markets, while 1.5 billion Canadian dollars will be invested to expand the national EV charging network.

Corporate tax cuts will be offered to zero-emission technology manufacturers to encourage investment in clean technologies and EVs, said the release, adding that stricter greenhouse gas emission standards will be implemented to have EVs account for 75 percent of all new car sales by 2035, and 90 percent by 2040.

Carney said in the release that the Canadian government will leverage existing and new trade agreements -- including the recent EV arrangement with China -- to catalyze massive new investment in the sector, diversify Canada's auto export markets, and position Canada as a global leader in EVs.

The release noted that currently, over 90 percent of Canadian-made vehicles and 60 percent of Canadian-made auto parts are exported to the United States, adding that U.S. auto tariffs are threatening Canada's auto manufacturing industry and the 125,000 direct jobs it supports.

Counter-tariffs on auto imports from the United States will be maintained by the Canadian government to ensure a level playing field for Canadian auto manufacturers in the domestic market, said the release.

Canada announces new EV strategy to transform auto industry

Excitement has been building in Italy as people gathered on the streets to catch a glimpse of the iconic Olympic flame as it continued its journey to Milan ahead of Friday night's much-anticipated opening ceremony of the 2026 Winter Olympics.

The Milano Cortina Winter Olympics will take place from February 6 to 23, with events held in the famous cultural city of Milan and the Alpine mountain town of Cortina d'Ampezzo. The Games will feature about 2,900 athletes from around the world, with a total of 116 gold medals up for grabs.

The torch arrived in Monza, a city in northern Italy most famous for its Formula One racing circuit, on Wednesday afternoon, with this being the final stop of the relay before the Olympic flame reaches Milan. Despite rainy and chilly weather, enthusiastic crowds gathered along the streets of Monza, waiting patiently to see the flame make its way along the route and take photos with the torchbearers.

Among those given the great honor of carrying the torch was Li Yaoyang, a reporter with the China Media Group (CMG) stationed in Italy, who was invited to participate in the Monza leg.

"The atmosphere here is fantastic. Even though it's raining and quite cold, people's enthusiasm has not dampened," said Li.

Some residents said they had traveled far to see the famous flame, and they shared their excitement and expectations for the upcoming sports extravaganza.

"I came all the way from Rome to see the Winter Olympics torch relay. It's incredibly exciting. This is a wonderful moment," said Walter Toscanelli, one of the spectators at the torch relay.

"We've been following the torch relay closely and are looking forward to the grand finale of the torch relay on Friday. We're very happy and excited to enjoy the Olympic Games," said Emanuele Cirillo, another resident.

Excitement builds in Italy as crowds gather to catch glimpse of Olympic flame