Steep prices at the pump spark interest in EVs

As gas prices continue to soar and drivers are feeling the pinch, there are signs that interest in electric vehicles is accelerating.

“I’ve spoken to some dealers and some of them said EV sales have gone up 30 per cent, but for others it’s gone up 50 or 100 per cent, so it really depends on the dealer and the brand,” said Daniel Breton, president of Electric Mobility Canada.

According to a report from rates.ca, the number of EV insurance quotes jumped 40 per cent in March compared to a year earlier.

EV sales in Canada had been in a slump, but a combination of gas prices due to the conflict in the Middle East and the return of federal rebates is making people EV-curious, Breton said.

“Both of these elements make for a lot of interest,” he said.

The low cost of electricity in Quebec is also a factor, added automotive journalist Mathieu St-Pierre.

“Charging up an EV is a heck of a lot less expensive than filling up, even your compact car, so EVs right now, at this very moment, make sense,” he said.

READ MORE: New interactive map shows the best gas prices in Quebec

There are currently about 500,000 fully electric vehicles on Quebec roads.

The cost of EVs is out of reach for many, but that could change when Chinese EVs hit the Canadian market later this year.

“There are some projections that some Chinese-made EVs that will be imported here could retail well, well below the $30,000 mark, even below $25,000. That remains to be seen,” said St-Pierre.

READ MORE: Stellantis in talks to build Chinese EVs at Canadian plant, Bloomberg News reports

Breton believes EVs are here to stay.

“Ninety-five per cent of people who buy electric cars will never go back to a gas car,” he said.

While gas prices could be driving more people to consider buying an EV, that could change if prices drop.“If the price at the pump goes back to $1.25 a litre, people are going to be like, ‘You know what? I’m going to keep my Corolla or go buy a new Honda CR-V,’” said St-Pierre. “The almighty dollar will always have the final word.”