Canada’s electric-vehicle transition could cost more than $300 billion by 2040 as the installation of charging infrastructure expands, upgrades to the electrical grid are made and other changes take place, according to a report released by Natural Resources Canada.
The report, an update to a 2021 study that Natural Resources Canada also commissioned, forecasts that Canada needs to significantly accelerate the pace of installing charging infrastructure to add 40,000 public charging ports per year on average between now and 2040. That is a big increase given that there are currently around 32,000 public ports across the country, and roughly 11,000 public charging ports were installed in 2023.
