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Canada Mandates All-Electric Cars by 2035
December 19, 2023
Canada Gears Up for an Electric Future
With its sights set on a greener horizon, Canada is stepping on the accelerator to transform its transportation landscape. The buzz is that, as soon as tomorrow, Canadian policymakers will unveil tough new rules mandating that every new passenger car sold must be emissions-free by 2035. This bold move is not just about cutting down the wait for electric cars; it’s about making sure that everyone can get their hands on an affordable, zero-emission ride as demand skyrockets.
The country’s ambitious timeline sets out for electric dreams to become a reality: one in five new cars rolling out in 2026 should be zero-emission, jumping to three in five by 2030, before crossing the finish line at a full 100% in 2035.
The Automotive Sector Shifts Gears
The wheels are already turning in response to Canada’s zero-emission vehicle (ZEV) game plan. Brian Kingston, head honcho of the Canadian Vehicle Manufacturers’ Association—with bigwigs like Ford, Stellantis, and GM in the roster—is raising an eyebrow at the new strategy.
Kingston is pushing the pedal on needing more juice—in the form of incentives—to get ZEVs into the driveways of more Canadians. His take? Let’s turbocharge ZEV purchases with incentives, rather than put the brakes on people’s choices with sales restrictions.
Illumina Navigates a Strategic Spinoff
Over in biotech, Illumina is getting ready to part ways with Grail, its cancer-detecting offshoot, on the back of a firm nudge from the courts. After the Fifth Circuit Court of Appeals backed the FTC’s stance that Illumina’s $7.1 billion Grail grab went against the grain of antitrust laws, Illumina is toeing the line.
Abiding by the FTC and European Commission’s orders, Illumina is opting out of a legal tussle and is on track to offload Grail, looking at either a sale or some savvy market maneuvering. Deal details should come into focus by mid-year. Rewinding the 2021 acquisition, Illumina may well see keen interest from would-be buyers, with financial pundits like Main Street Investor predicting a hefty boost to shareholder smiles.