Latest news with #CleanEnergyCanada
National Post
a day ago
- Automotive
- National Post
VinFast: EVs Help the Planet and the Household Budget
Article content MARKHAM, Ontario — As rising living costs push Canadian families to seek smarter financial choices, electric vehicles like those from VinFast are emerging as practical options that promise long-term savings and stability in uncertain economic times. Article content Article content Canadian families are having to make tough choices as grocery bills climb by 3.8% year over year 1. With 85% now feeling like they're living paycheque to paycheque 2 and 61% reconsidering major life decisions due to rising costs 3, every purchase matters more than ever. Article content In this climate, consumers will have to calculate which vehicle makes the most financial sense over time. The answer increasingly points to electric. Article content The Numbers Don't Lie Article content Recent research reveals a compelling financial picture for electric vehicles. Clean Energy Canada found that EVs save Canadian drivers roughly $3,000 annually on average. Over ten years, that adds up to about $30,000 in savings 4. An electric hatchback or SUV can save $28,500 compared to its gasoline equivalent during the same period. Article content An earlier research from Vincentric supports these findings. They analyzed 40 electric vehicles against comparable gas models and came to the conclusion that 95% of EVs cost less to own over five years than their traditional counterparts 5. The savings come from lower fuel costs, reduced maintenance needs, and fewer repairs. Article content Long seen as an environmentally friendly alternative to gasoline cars, EVs are now emerging as practical financial tools for households watching every dollar. Yes, EVs often cost more upfront, but they can reduce the total cost of ownership, a growing concern for budget-conscious families. Lower fuel costs make a difference when gas prices swing unpredictably, and reduced maintenance helps when unexpected repair bills can derail household budgets. Article content This financial logic could be especially appealing to parents. The Spring Financial report found that 70% of parents with kids at home are reconsidering major decisions due to cost pressures 6. They're 40% less likely to afford emergency savings compared to other Canadians. Article content For these families, an EV's lower operating costs might help free up money for other priorities. Article content The psychological shift may be underway. Canadians who once bought EVs to feel good about the environment might now be turning to them to make better financial decisions. Article content Automakers recognize this change. VinFast, the best-selling automaker in Vietnam, for example, has structured its Canadian strategy around what budget-conscious buyers actually want. Their '3 Good' approach focuses on premium cars, affordable prices, and excellent aftersales policies. It's straightforward messaging for complicated times. Article content Currently, VinFast offers one of the longest warranties in the car industry, with their all-wheel-drive mid-sized electric SUV, the VinFast VF 8, covered for ten years or 200,000 kilometers, with unlimited kilometers on the battery under normal usage. This is financial insurance for families who can't afford unexpected repair bills. The warranty reduces long-term uncertainty, which matters more when household budgets are already stretched thin. Article content The brand's approach aligns with current Canadian priorities. Affordable pricing addresses upfront cost concerns. Well-equipped vehicles provide value. Strong service commitments reduce ownership risks. These aren't luxury considerations anymore; they're necessities for families making careful financial decisions. Article content VinFast's strategy reflects the broader market reality. Canadian buyers want EVs that make financial sense first and environmental sense second. Both matter, but economic pressures have reordered priorities. Article content The New Equation Article content Today's car buyers face a different calculation than they did several years ago. Environmental benefits still matter, but financial benefits often determine the final decision. EVs deliver on both, but the economic case has become the compelling argument. Article content In this environment, brands should recognize that they're selling financial security as much as environmental responsibility. They can win over customers by understanding what Canadian families need most right now: vehicles that help their budgets work better, not just make their carbon footprint smaller. Article content Article content Article content Article content Article content Article content
Business Wire
a day ago
- Automotive
- Business Wire
VinFast: EVs Help the Planet and the Household Budget
MARKHAM, Ontario--(BUSINESS WIRE)-- As rising living costs push Canadian families to seek smarter financial choices, electric vehicles like those from VinFast are emerging as practical options that promise long-term savings and stability in uncertain economic times. Canadian families are having to make tough choices as grocery bills climb by 3.8% year over year 1. With 85% now feeling like they're living paycheque to paycheque 2 and 61% reconsidering major life decisions due to rising costs 3, every purchase matters more than ever. In this climate, consumers will have to calculate which vehicle makes the most financial sense over time. The answer increasingly points to electric. The Numbers Don't Lie Recent research reveals a compelling financial picture for electric vehicles. Clean Energy Canada found that EVs save Canadian drivers roughly $3,000 annually on average. Over ten years, that adds up to about $30,000 in savings 4. An electric hatchback or SUV can save $28,500 compared to its gasoline equivalent during the same period. An earlier research from Vincentric supports these findings. They analyzed 40 electric vehicles against comparable gas models and came to the conclusion that 95% of EVs cost less to own over five years than their traditional counterparts 5. The savings come from lower fuel costs, reduced maintenance needs, and fewer repairs. Long seen as an environmentally friendly alternative to gasoline cars, EVs are now emerging as practical financial tools for households watching every dollar. Yes, EVs often cost more upfront, but they can reduce the total cost of ownership, a growing concern for budget-conscious families. Lower fuel costs make a difference when gas prices swing unpredictably, and reduced maintenance helps when unexpected repair bills can derail household budgets. This financial logic could be especially appealing to parents. The Spring Financial report found that 70% of parents with kids at home are reconsidering major decisions due to cost pressures 6. They're 40% less likely to afford emergency savings compared to other Canadians. For these families, an EV's lower operating costs might help free up money for other priorities. The psychological shift may be underway. Canadians who once bought EVs to feel good about the environment might now be turning to them to make better financial decisions. Meeting the Market Where It Is Automakers recognize this change. VinFast, the best-selling automaker in Vietnam, for example, has structured its Canadian strategy around what budget-conscious buyers actually want. Their "3 Good" approach focuses on premium cars, affordable prices, and excellent aftersales policies. It's straightforward messaging for complicated times. Currently, VinFast offers one of the longest warranties in the car industry, with their all-wheel-drive mid-sized electric SUV, the VinFast VF 8, covered for ten years or 200,000 kilometers, with unlimited kilometers on the battery under normal usage. This is financial insurance for families who can't afford unexpected repair bills. The warranty reduces long-term uncertainty, which matters more when household budgets are already stretched thin. The brand's approach aligns with current Canadian priorities. Affordable pricing addresses upfront cost concerns. Well-equipped vehicles provide value. Strong service commitments reduce ownership risks. These aren't luxury considerations anymore; they're necessities for families making careful financial decisions. VinFast's strategy reflects the broader market reality. Canadian buyers want EVs that make financial sense first and environmental sense second. Both matter, but economic pressures have reordered priorities. The New Equation Today's car buyers face a different calculation than they did several years ago. Environmental benefits still matter, but financial benefits often determine the final decision. EVs deliver on both, but the economic case has become the compelling argument. In this environment, brands should recognize that they're selling financial security as much as environmental responsibility. They can win over customers by understanding what Canadian families need most right now: vehicles that help their budgets work better, not just make their carbon footprint smaller.
Hamilton Spectator
27-05-2025
- Business
- Hamilton Spectator
Throne speech pledges ‘energy superpower' future but observers flag climate impact on cost of living
King Charles' speech from the throne was widely welcomed by clean energy, environmental and industry organizations in Canada for its emphasis on strengthening the country's economy led by a strategy to become the world's 'leading energy superpower' that was more competitive globally and combatted the climate crisis. But several cautioned that job creation and economic growth in the face of the ongoing US trade war must not impede progress on the energy transition when the cost of living is skyrocketing due to grocery prices jacked up by climate change-fuelled supply-chain upheaval; rising home insurance premiums connected to extreme weather; and tax hikes linked to paying for disaster recovery and infrastructure repair. In the throne speech, the first in almost 50 years by a sitting sovereign, King Charles said Canada could see 'the largest transformation of its economy since the Second World War,' if a number of anti-growth 'barriers,' including those related to interprovincial trade, were removed. 'Given the pace of change and the scale of opportunities, speed is of the essence. By removing these barriers that have held back our economy, we will unleash a new era of growth that will ensure we don't just survive ongoing trade wars, but emerge from them stronger than ever,' King Charles said. 'It will enable Canada to become the world's leading energy superpower in both clean and conventional energy. To build an industrial strategy that will make Canada more globally competitive while fighting climate change. To build hundreds of thousands of good careers in the skilled trades. And to build Canada into the world's leading hub for science and innovation.'. Rachel Doran, executive director at Clean Energy Canada, a think-tank, said the common theme of the throne speech was that it is a 'time for change, not status quo thinking,' especially around the shift away from fossil fuels. 'Change means rethinking our trade relationships, investing in new and growing industries, building faster and more efficiently, and ensuring that affordability and sustainability are written into the DNA of all of these efforts from day one,' she said in a statement. 'It is clear, as mentioned in the throne speech, that Canada can and should action an industrial strategy that will both make us more globally competitive and combat climate change. These are not distinct but complementary objectives.' Doran pointed to studies from the International Energy Agency, a global energy watchdog, that showed Canadian household energy bills 'will shrink as we near net zero.' Rick Smith, president of the Canadian Climate Institute, a policy research body, praised the speech for its focus on speeding up development of 'nation-building' projects and infrastructure and working to make Canada a clean energy superpower as well as a global hub for science and innovation. Yet he flagged that 'any robust economic strategy must include effective action to fight climate change, make life more affordable , and invest in low-carbon innovation.' 'We urge the federal government to act decisively on five specific, critical priorities: strengthening industrial carbon pricing systems, finalizing methane regulations for the oil and gas sector, enacting Canada's Clean Electricity Tax Credit , establishing a made-in-Canada climate taxonomy for Canada's financial sector, and applying clear flood and fire resilience criteria for federally supported housing ,' Smith said. Climate change is 'already making life in Canada less affordable,' he stressed — and building a 'strong and resilient' domestic economy meant protecting homes and communities from the impacts of the emissions-driven environmental emergency. 'Acting swiftly on policy priorities [outlined in the speech from the throne] will strengthen Canada's competitive advantage in an increasingly unpredictable global economy, while enhancing Canadian sovereignty, resilience and energy security,' said Smith. Environmental activist group emphasized that the Liberal government should invest in the clean energy transition to create jobs and build the economy 'without robbing our children of a liveable future.' The group said Carney's goal of becoming an energy superpower must not depend on 'embracing false solutions like carbon capture technology, biomass, and liquified natural gas, which receive massive taxpayer subsidies and perpetuate pollution while masquerading as clean energy sources.' Speaking before the Calgary Chamber of Commerce last week, federal natural resources minister Tim Hodgson indicated that the government would , in fact, be investing in carbon capture, among other oil and gas industry priorities. Fernando Melo, head of policy at the Canadian Renewable Energy Association, an industry group, said the throne speech signalled the country stood 'at a moment of fundamental change which is also an incredible opportunity to think big and to act bigger.' 'Renewable energy and energy storage are the most rapidly deployable, clean and affordable options available. We are pleased to see that Canada's government is looking to build. As the King said, 'In this new, fast-evolving world, Canada is ready to lead,'' he said. Lynn Cote, executive director of the Canada Clean Tech Alliance, a coalition of industry advocacy bodies, noted that while 'cleantech' had not been mentioned in the speech from the throne, she 'anticipated that advanced technologies will be included in building key infrastructure projects.' Dan Kelly, president of Canadian Federation of Independent Business, which advocates for the country's small and medium-sized businesses, said he was glad to hear 'conventional' mentioned alongside 'clean' in the stated aim to make Canada an energy 'superpower.' He said that the 2,000 energy sector companies in the CFIB's membership would be cheered by the throne speech 'in that it both continued the Trudeau government's focus on clean energy but included conventional energy too. 'That is a definite change in tone,' said Kelly. He added that his 'worry' having listened to the throne speech is that the government will not table a budget before the fall, when the 'rubber hits the road.' He highlighted the 'unfulfilled promises' of the preceding Liberal on business carbon tax rebates, with some $600 million still yet to be paid to CFIB members from 2024, and $2.5 billion in payments that remains 'taxable, unlike the consumer carbon tax rebates' which are tax-free. 'If we want to get our economy rebooted, we have a lot of unfinished business to do. Small- and medium-sized businesses are on shaky footing [due to the pandemic and US trade war] and this is all capital that could be invested in supporting Canadian entrepreneurship in evolving [toward the emerging clean economy],' said Kelly. Lana Payne, president of Unifor, a Canadian union representing 320,000 workers, said while it supported the government 'unlocking Canada's potential as a global energy leader, both in clean and conventional energy,' this ambition 'requires more than simply speeding up approvals.' 'It demands streamlined, comprehensive review processes that protect the environment, uphold Indigenous rights, and ensure public safety— all while creating good, unionized jobs and building a more competitive, sustainable economy,' she said.
National Observer
27-05-2025
- Business
- National Observer
Throne speech pledges 'energy superpower' future but observers flag climate impact on cost of living
King Charles' speech from the throne was widely welcomed by clean energy, environmental and industry organizations in Canada for its emphasis on strengthening the country's economy led by a strategy to become the world's 'leading energy superpower' that was more competitive globally and combatted the climate crisis. But several cautioned that job creation and economic growth in the face of the ongoing US trade war must not impede progress on the energy transition when the cost of living is skyrocketing due to grocery prices jacked up by climate change-fuelled supply-chain upheaval; rising home insurance premiums connected to extreme weather; and tax hikes linked to paying for disaster recovery and infrastructure repair. In the throne speech, the first in almost 50 years by a sitting sovereign, King Charles said Canada could see 'the largest transformation of its economy since the Second World War,' if a number of anti-growth 'barriers,' including those related to interprovincial trade, were removed. 'Given the pace of change and the scale of opportunities, speed is of the essence. By removing these barriers that have held back our economy, we will unleash a new era of growth that will ensure we don't just survive ongoing trade wars, but emerge from them stronger than ever,' King Charles said. 'It will enable Canada to become the world's leading energy superpower in both clean and conventional energy. To build an industrial strategy that will make Canada more globally competitive while fighting climate change. To build hundreds of thousands of good careers in the skilled trades. And to build Canada into the world's leading hub for science and innovation.'. 'Time for change, not status quo' Rachel Doran, executive director at Clean Energy Canada, a think-tank, said the common theme of the throne speech was that it is a 'time for change, not status quo thinking,' especially around the shift away from fossil fuels. 'Acting swiftly on policy priorities will strengthen Canada's competitive advantage in an increasingly unpredictable global economy, while enhancing Canadian sovereignty, resilience and energy security," says Canadian Climate Institute's Rick Smith 'Change means rethinking our trade relationships, investing in new and growing industries, building faster and more efficiently, and ensuring that affordability and sustainability are written into the DNA of all of these efforts from day one,' she said in a statement. 'It is clear, as mentioned in the throne speech, that Canada can and should action an industrial strategy that will both make us more globally competitive and combat climate change. These are not distinct but complementary objectives.' Doran pointed to studies from the International Energy Agency, a global energy watchdog, that showed Canadian household energy bills 'will shrink as we near net zero.' Rick Smith, president of the Canadian Climate Institute, a policy research body, praised the speech for its focus on speeding up development of 'nation-building' projects and infrastructure and working to make Canada a clean energy superpower as well as a global hub for science and innovation. Yet he flagged that 'any robust economic strategy must include effective action to fight climate change, make life more affordable, and invest in low-carbon innovation.' Five 'critical' priorities 'We urge the federal government to act decisively on five specific, critical priorities: strengthening industrial carbon pricing systems, finalizing methane regulations for the oil and gas sector, enacting Canada's Clean Electricity Tax Credit, establishing a made-in-Canada climate taxonomy for Canada's financial sector, and applying clear flood and fire resilience criteria for federally supported housing,' Smith said. Climate change is 'already making life in Canada less affordable,' he stressed — and building a 'strong and resilient' domestic economy meant protecting homes and communities from the impacts of the emissions-driven environmental emergency. 'Acting swiftly on policy priorities [outlined in the speech from the throne] will strengthen Canada's competitive advantage in an increasingly unpredictable global economy, while enhancing Canadian sovereignty, resilience and energy security," said Smith. Environmental activist group emphasized that the Liberal government should invest in the clean energy transition to create jobs and build the economy 'without robbing our children of a liveable future.' Government must avoid 'false solutions' The group said Carney's goal of becoming an energy superpower must not depend on 'embracing false solutions like carbon capture technology, biomass, and liquified natural gas, which receive massive taxpayer subsidies and perpetuate pollution while masquerading as clean energy sources.' Speaking before the Calgary Chamber of Commerce last week, federal natural resources minister Tim Hodgson indicated that the government would, in fact, be investing in carbon capture, among other oil and gas industry priorities. Fernando Melo, head of policy at the Canadian Renewable Energy Association, an industry group, said the throne speech signalled the country stood 'at a moment of fundamental change which is also an incredible opportunity to think big and to act bigger.' 'Renewable energy and energy storage are the most rapidly deployable, clean and affordable options available. We are pleased to see that Canada's government is looking to build. As the King said, 'In this new, fast-evolving world, Canada is ready to lead,'' he said. Cleantech not mentioned by name Lynn Cote, executive director of the Canada Clean Tech Alliance, a coalition of industry advocacy bodies, noted that while 'cleantech' had not been mentioned in the speech from the throne, she 'anticipated that advanced technologies will be included in building key infrastructure projects.' Dan Kelly, president of Canadian Federation of Independent Business, which advocates for the country's small and medium-sized businesses, said he was glad to hear 'conventional' mentioned alongside 'clean' in the stated aim to make Canada an energy 'superpower.' He said that the 2,000 energy sector companies in the CFIB's membership would be cheered by the throne speech 'in that it both continued the Trudeau government's focus on clean energy but included conventional energy too. 'That is a definite change in tone,' said Kelly. He added that his 'worry' having listened to the throne speech is that the government will not table a budget before the fall, when the 'rubber hits the road.' Trudeau's 'unfulfilled promises' He highlighted the 'unfulfilled promises' of the preceding Liberal on business carbon tax rebates, with some $600 million still yet to be paid to CFIB members from 2024, and $2.5 billion in payments that remains 'taxable, unlike the consumer carbon tax rebates' which are tax-free. 'If we want to get our economy rebooted, we have a lot of unfinished business to do. Small- and medium-sized businesses are on shaky footing [due to the pandemic and US trade war] and this is all capital that could be invested in supporting Canadian entrepreneurship in evolving [toward the emerging clean economy],' said Kelly. Lana Payne, president of Unifor, a Canadian union representing 320,000 workers, said while it supported the government 'unlocking Canada's potential as a global energy leader, both in clean and conventional energy,' this ambition 'requires more than simply speeding up approvals.' 'It demands streamlined, comprehensive review processes that protect the environment, uphold Indigenous rights, and ensure public safety— all while creating good, unionized jobs and building a more competitive, sustainable economy,' she said.
National Observer
27-05-2025
- Business
- National Observer
Building clean does not need to break the bank
If there's one thing Canadian politicians agree on, it's that we need more housing. We need to build more affordable homes and the infrastructure that surrounds them. And, wherever possible, we should be building them with Canadian materials. But if there's another thing that the majority of Canadians agree on, it's that more housing should not come at the cost of meeting our climate goals. We talk a lot about the need to heat, cool and power our homes with renewable energy to reduce emissions. But what's talked about less are the emissions caused by building those homes in the first place. Producing construction materials like concrete, steel, drywall and insulation causes significant industrial emissions. Before you get the keys to your new home, it has already locked in 20 to 120 tonnes of emissions. At the high end, that's equivalent to 30 years of driving the average gas-powered car. For the housing build-out we need to see by 2030, that would mean more than a year's worth of Canada's total emissions from the entire economy. In short, we cannot ignore the climate consequences of the housing debate. Prime Minister Mark Carney's housing plan promises that low-emissions materials will be prioritized in the build-out, but in a housing crisis, there may be worries about a trade-off between green and affordable, or between green and fast. Thankfully, cleaner options are already available, and they do not need to cost more. A new report by Clean Energy Canada shows that low-emissions alternatives for concrete, steel, insulation and drywall are available at no or negligible-cost premiums. Drywall and insulation alternatives that cut emissions in half or even reduce emissions by as much as 98 per cent are already available at standard market rates. Even high-emissions steel and concrete can be replaced with cleaner alternatives, usually without paying extra. Where slight cost increases were found for projects built with cleaner materials, in most cases these added up to no more than $2,000 to $3,000 per material, less than cents on the dollar for multi-million-dollar projects that deal with larger cost variations every day. More housing should not come at the cost of meeting our climate goals, writes Jana Elbrecht What's more, preferring clean materials gives Canadian producers an edge, as our relatively clean electricity grid and innovation in clean material industries have made Canadian construction materials on average cleaner than those imported. Governments can support domestic industry by adopting a 'Buy Clean' approach, requiring government-funded buildings and infrastructure to use cleaner materials and meet whole-building emissions reduction targets. At no extra cost, that means Canadian housing and infrastructure dollars are spent on clean, often Canadian, materials. Investing in clean manufacturing will also help Canadian industry be competitive in export markets like the EU, which is adopting an emissions-based import tax on a range of industrial products, including steel. In addition to cleaner materials, construction projects can cut cost and carbon through more efficient design. Simplifying existing designs and not overbuilding can already save time, dollars, and emissions. Taking this a step further and rethinking how a building can provide the same function with less material, builders can achieve emission reductions as large as 40 per cent. Building parkades and basements underground are examples of particularly carbon-intensive structures, not to forget flood risks. Thinking about the climate, as well as cost, early on can lead to big savings. If the new federal government is looking for ways to tie the housing crisis to the tariff war, a common solution can be found in building efficiently with clean, made-in-Canada materials. It won't break the bank.
