logo
Canada continues to fall behind on building up EV charging network: experts

Canada continues to fall behind on building up EV charging network: experts

OTTAWA - Canada continues to fall behind on efforts to build up a network of electric vehicle charging stations, even as the rising number of chargers along key corridors makes it easier for Canadians to take their EVs on longer trips, researchers say.
There are a little more than 35,000 charging stations across the country right now — well short of the 100,520 Canada needs to meet its policy goals for electric vehicles, researchers with the Montreal-based consultancy Dunsky Energy and Climate said in a report released last year.
In a 2021 analysis commissioned by Natural Resources Canada, Dunsky estimated Canada needed 52,000 chargers by this year. It revised that target in a report released in February 2024 to take into account the need for charging infrastructure for commercial fleets and secondary roads.
According to the most recent data from Natural Resources Canada, 88 per cent of Canada's charging ports are in B.C., Ontario and Quebec — provinces which accounted for 92 per cent of new EV sales last year.
Jeff Turner, director of mobility at Dunsky Energy and Climate, said the shortage of stations is hardest on EV drivers who live in multi-unit residential buildings and may rely on on-street parking.
'The analysis that we did puts a pretty strong emphasis on the importance of an equitable transition to EVs,' Turner said. 'And so we put a big focus on the need to support folks who can't charge at home.'
The federal government issued a call for proposals for public and private EV charging stations last year and is expected to announce funding for those projects by January.
Turner said that funding should boost the number of charging stations after the summer construction season ends.
'We're sort of in a bit of a waiting period for the most recent funding to really start to have a big impact,' he said.
Turner said a growing number of charging locations along key highway corridors — particularly between Toronto and the Atlantic region — has made it easier for Canadians to take their EVs for longer trips.
'Folks really fixate on this idea of the road trip is the biggest barrier holding them back from switching to an EV,' said Turner, adding he drove from Montreal to Halifax twice last year in his EV.
'We're now at a point where most new EVs coming to the market can charge back up to 80 per cent in maybe 30 to 35 minutes. Some of the fastest-charging EVs could do that in under 20 minutes.'
Starting next year, Ottawa will require that 20 per cent of all new light-duty vehicles sold be zero-emission vehicles, which include gas-powered plug-in hybrids. That benchmark is set to climb annually to reach 100 per cent in 2035.
The federal government is under pressure to repeal that EV sales mandate. Automakers have argued they can't meet the sales target and would have to pull gas-powered vehicles off the market to achieve it — which would undermine domestic production.
Even if the government chooses to change or drop the mandate, Turner said, it wouldn't affect the need for more charging stations.
'No matter how many EVs are on the road, we still need an adequate spacing of charging stations so that people can make the trips that they want to and go to the places they want to and still expect to be able to find a charger without needing to make an inconvenient detour,' he said.
'What does change is the volume of charging that needs to happen.'
This report by The Canadian Press was first published July 9, 2025
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Vision Marine Technologies Accelerates Global Leadership in Tender Market, Deploys Strategic Growth Initiatives
Vision Marine Technologies Accelerates Global Leadership in Tender Market, Deploys Strategic Growth Initiatives

Yahoo

time40 minutes ago

  • Yahoo

Vision Marine Technologies Accelerates Global Leadership in Tender Market, Deploys Strategic Growth Initiatives

MONTREAL, QC / / July 28, 2025 / Vision Marine Technologies Inc. (NASDAQ:VMAR) ("Vision Marine" or the "Company"), a pioneer in high-voltage electric marine propulsion and a multi-brand boat retailer with a strong dealership network across Florida, today announced the expansion of its commercial activities across the global tender market-a high-turnover, high-impact segment in which the Company now holds a commanding position. Following its acquisition of Florida-based Nautical Ventures Group, Winner of Boating Industry's Top 100 Dealer of the Year award in 2024, Vision Marine has become one of the largest US distributors of Highfield Boats-which bills itself as the world's number one manufacturer of rigid inflatable tenders. Highfield reports having delivered approximately 54,000 units globally since 2011. Vision Marine now accounts for a leading share of its North American 2022 to 2024, Nautical Ventures Group, which Vision Marine acquired in June 2025, sold in excess of 600 tenders across its Florida-based dealership network, generating more than $14 million in revenue. In 2023 alone, Nautical Ventures sold more than 200 units, representing over $4 million in tender-related sales. These strong historical results-achieved prior to the acquisition-form the commercial backbone of Vision Marine's current tender strategy and reflect the performance capacity of the Company's seven high-volume dealership locations strategically positioned across Florida, the epicentre of U.S. recreational boating. Vision Marine has also allocated a dedicated retail and service facility at 1440 South Federal Highway in Fort Lauderdale, focused exclusively on tenders and inflatables. This strategic property supports showroom expansion, accompanied by its marina which provides service capacity, aftermarket support for quick turnaround and on-site integration of both gas-powered and electric tenders, accelerating inventory turnover and operational readiness in this high-growth category. "The tender is no longer just a yacht accessory-it's a standalone product category that delivers volume, visibility, and direct consumer engagement," said Alexandre Mongeon, CEO of Vision Marine. "This segment gives us early access to a new generation of boaters and fleet operators, many of whom are already shifting from ICE to electric. That makes tenders not only commercially strategic, but transformational for our business model." The global inflatable boat market is expected to reach an estimated $4 billion by 2030 from $2 billion in 2023 at a CAGR of 7% from 2023 to 2030. Interest in electric propulsion is steadily increasing across the marine industry, particularly in the tender category, where size, use case, and user expectations align naturally with electrified solutions. Vision Marine is strategically positioned to serve this shift, combining its proprietary high-voltage electric technology with a growing retail footprint and integration part of its broader effort to accelerate inventory turnover and maximize retail performance across its store network, Nautical Ventures recently launched a limited-time tender promotion across all Nautical Ventures locations. The initiative is designed to create rapid movement of key models, increase showroom traffic, and support year-round sell-through-a shift that reflects Vision Marine's renewed focus on retail efficiency and high-frequency customer engagement. Tenders now span a wide range of applications-from compact inflatables and luxury yacht support vessels to robust standalone boats used for diving, waterfront commuting, and light commercial activity. Vision Marine supports both internal combustion and electric configurations, including integration with the Company's own E-Motion™ 180E high-voltage electric powertrain. With full-service integration and delivery available through its dealership network, Vision Marine is uniquely equipped to meet growing demand for reliable, high-performance tenders. The Company's scale and full vertical integration-spanning propulsion innovation, OEM collaboration, direct retail, and post-sale service-enables it to deliver unmatched consumer experience and operational control. Nowhere is this model more evident than in the tender segment, where Vision Marine plans to increase both market share and customer retention through a blend of volume strategy and premium support. This focus on the tender segment-particularly its electrification-is designed to deliver long-term shareholder value through a combination of volume growth, margin expansion, and recurring revenue potential. As the market accelerates toward electric solutions, Vision Marine is leveraging its proprietary propulsion technology, dealership assets, and integration expertise to build a durable and scalable marine platform. More about Nautical Ventures promotion can be found at: Vision Marine Technologies Inc. Vision Marine Technologies Inc. (NASDAQ: VMAR) is a technology company specializing in high-voltage electric propulsion systems for the marine industry. The Company's flagship product, the E-Motion™ 180E, is a fully industrialized high-voltage electric outboard system for recreational boating, validated through partnerships with leading industry players. With the recent acquisition of Nautical Ventures Group, Vision Marine has expanded its sales and service network on the East Coast of the United States. Through Nautical Ventures' multi-brand retail operations, Vision Marine now offers both traditional internal combustion engine (ICE) boats and next-generation electric propulsion solutions, providing a full range of products to meet the current and evolving needs of recreational boaters. For more information, visithttps:// Forward-Looking Statements The statements contained in this press release that are not historical facts are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include Vision Marine's plans for commercial deployment, expansion of sales and service capabilities, and market adoption of its electric propulsion systems. These statements are subject to risks and uncertainties, including the Company's ability to execute its growth strategy, integrate new operations, and drive market adoption. Actual results may differ materially from those projected. Vision Marine undertakes no obligation to update forward-looking statements, except as required by law. Investor and Company Contact:Bruce NurseInvestor Relations(303) 919‑2913bn@v‑ SOURCE: Vision Marine Technologies Inc View the original press release on ACCESS Newswire Sign in to access your portfolio

Mitsubishi Electric to Transfer Shares of Insurance Subsidiary to Marsh Japan
Mitsubishi Electric to Transfer Shares of Insurance Subsidiary to Marsh Japan

Business Wire

timean hour ago

  • Business Wire

Mitsubishi Electric to Transfer Shares of Insurance Subsidiary to Marsh Japan

TOKYO--(BUSINESS WIRE)-- Mitsubishi Electric Corporation (TOKYO: 6503) announced today that it has concluded a share transfer agreement under which it will transfer shares of its Tokyo-based subsidiary Mitsubishi Electric Insurance Service Co., Ltd. to Marsh Japan, Inc. on November 4. Since its establishment in 1999 as an insurance agency for the Mitsubishi Electric Group, Mitsubishi Electric Insurance Service has supported the growth of companies and the life plans of individuals. Marsh Japan, which provides services and solutions to companies of all sizes across Japan, was founded in 1955 as a Japanese subsidiary of Marsh LLC, a world-leading insurance broker and risk advisor owned by Marsh McLennan (NYSE: MMC). Mitsubishi Electric has been assessing the significance of the insurance business in its portfolio, aiming to further strengthen the company's overall business structure. Considering the evolving business environment for insurance agencies in Japan, Mitsubishi Electric determined having Mitsubishi Electric Insurance Service teamed up with Marsh Japan would best position the company for long-term growth supported by Marsh LLC's global insurance expertise. The impact of the transaction on Mitsubishi Electric's consolidated financial results is not included in its financial forecast for the fiscal year ending March 2026, announced on April 28, 2025, but it is expected to be minor. If there is any significant change, updates will be announced promptly as required.

Claude Cohen: The Vision Behind Monaco's Luxurious Precision
Claude Cohen: The Vision Behind Monaco's Luxurious Precision

Time Business News

time3 hours ago

  • Time Business News

Claude Cohen: The Vision Behind Monaco's Luxurious Precision

Monaco, July 2025 — In the opulent cityscape of Monaco, where prestige meets precision, one name continues to echo in both the world of luxury auctions and elite property development: Claude Cohen. Best known for his leadership at Monaco Legend Group, Cohen's lesser known yet equally influential venture, Batilux, plays a central role in shaping the physical elegance of the Principality. From Collector's Gavel to Construction Blueprint Cohen's professional trajectory is as diverse as it is ambitious. While many recognize him for revolutionizing the collectible watch auction market through Monaco Legend Group, his impact extends well beyond the walls of the auction house. With Batilux, a high-end construction and renovation firm headquartered in Monaco, the Italian Claude Cohen has ventured into the meticulous world of architectural refinement. The company specializes in luxury residential projects, transforming historic buildings and prime real estate into modern, bespoke living spaces designed for Monaco's discerning clientele. The Philosophy Behind Batilux Batilux is not simply a construction company; it is a curator of lifestyle. Under Cohen's direction, the company merges form and function, infusing timeless design with cutting-edge technology. Each project is approached with the same attention to detail that Cohen brings to the auction floor—every material, finish, and spatial decision reflects an uncompromising standard of excellence. According to sources close to the company, Batilux operates with a streamlined model: manage fewer projects, but delivers at an unmatched level of quality. The result is a portfolio of luxury residences that not only reflect Monaco's refined aesthetic but also offer long-term value in one of the world's most exclusive property markets. A Monaco-Based Legacy Claude Cohen's decision to root his ventures in Monaco is no coincidence. The Principality, with its favorable fiscal environment, international client base, and cultural emphasis on discretion and luxury, aligns perfectly with Cohen's business ethos. Beyond real estate, his involvement in Monaco's economic and cultural fabric is extensive. Through both Monaco Legend Group and Batilux, he supports a growing ecosystem of artisans, architects, designers, and international investors who are helping to evolve the city's visual identity. Leadership Under the Spotlight Cohen's entrepreneurial ventures haven't escaped the glare of scrutiny. Like many high-profile business leaders operating across finance and real estate, questions have occasionally surfaced regarding past offshore corporate practices—commonplace in Monaco prior to modern transparency reforms. Yet, Cohen has consistently emphasized his commitment to operating within the legal frameworks of the Principality. Over the past decade, he has restructured his businesses to reflect current financial and regulatory standards, further reinforcing Monaco's position as a global hub of trust and luxury. Looking Ahead As Monaco continues to evolve, so does Claude Cohen's role within it. Batilux, with its emphasis on innovation, sustainability, and exclusivity, is positioned not just as a builder of homes—but as a shaper of Monaco's future skyline. Whether through rare timepieces that pass under his auction gavel or penthouses rebuilt by his team, Cohen's influence in the Principality is tangible, lasting, and reflective of a deeper vision: one where legacy is built brick by brick, auction by auction. TIME BUSINESS NEWS

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store