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How much does electric cars cost to buy in Canada?

How much does electric cars cost to buy in Canada? If you’re looking for some realistic answers, keep on reading. 

Electric vehicles are gaining more recognition all over the world, as people are stressing out about climate change. If you’re thinking about switching to an EV, you’re in the right place to know all about it. We answer some of the most frequent questions about prices, buying and owning an electric vehicle.

How much does electric cars cost to buy in Canada?

Electric cars are typically more expensive to buy than conventional (petrol or diesel) equivalents. This is due to their lithium-ion battery. Their Prices run around $30,000 to $45,000, but there are some provinces offer discounts and incentives that can make them more affordable for people on a limited budget. For example, Quebec offers discounts of up to $8,000 and BC offers rebates of up to $5,000.

Why are EV batteries so expensive?

Often because of what goes in them. An EV uses the same rechargeable lithium-ion batteries you have in your laptop or mobile phone, they’re just much bigger to fit the need to deliver far more energy. The most expensive component in each cell is the cathode, one of the two electrodes which store and release a charge. That’s because the materials needed in cathodes to pack in more energy are often pricey: metals like cobalt, nickel, lithium and manganese. They need to be mined, processed and converted into chemical compounds which are high-purity.

Is an electric car economical to own?

Electric cars might cost more to purchase, but they’re more affordable to run than conventional autos.  Considering fueling, fuel costs are lower. On average, it costs around $300 to $400 per year to charge your electric vehicle, depending on the time and place you charge it. A typical plug-in hybrid requires about $700 per year. By simple comparison, a gasoline car can cost you $1,000 to $2,500 per year to fill up. Electric cars are also much cheaper to maintain and service because they have fewer moving parts and don’t require oil changes. Also, you can save money on your car insurance.

What’s the differences between an electric car, a hybrid and a plug-in hybrid?

Unlike electric cars, which have electric motors and rechargeable lithium batteries, hybrids have a combination of gasoline and electricity. Running the combustion engine give the power needed to charge the battery for the electric engine. Plug-in hybrids can also be charged in the same way as electric vehicles, but they usually have back-up gasoline motors, that eliminates the range anxiety you might get with fully-electric vehicles.

Can electric vehicles bear Canadian winters?

In super cold weather, electric car batteries can lose half their range or even more. So what can you do to prevent this? You can make up for this in part by warming up the car while it’s still plugged in, using the economy mode and sticking to the speed limit. Canadians who drive 20 to 100 km a day and have access to a charging station may find that owning an electric car is the right choice, even in wintery weather. Another prospective solution is to buy an electric vehicle with a long-range battery, but of course it definitely costs more.

How often I have to charge my electric car?

Considering road conditions and your driving habits, a single charge can be enough to drive 140 to 450 km. That’s fine for most people who travel less than 85 km per day. But an electric vehicle might not be a smart choice for long trips because charging stations can be difficult to find, not to mention charging stations exist in 3 standard charging levels. So, depending on the type of station you find, it might take anywhere from 10 minutes…to 8 hours to charge your car!

The good news is charging stations are popping up everywhere. There’s a growing network of more than 5,000 public charging stations in Canada. Some provinces offer discounts and subsidies when you install a charging station at home, and new condominium buildings normally have charging areas in their parking lots.

What are the cheapest electric cars in Canada?

If you’re looking for the most affordable electric cars, we got your back. We’ve prepared a special list for you, consider these for all under $45,000 Manufacturer’s Suggested Retail Price: Hyundai IONIQ, Kia Niro PHEV, Volkswagen e-Golf, Nissan Leaf, Chevrolet Bolt, and the Tesla Model 3.

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