Stock Markets February 3, 2026

Ottawa Mulls Reinstating EV Purchase Rebates as National Auto Strategy Nears

Federal government weighs returning incentives amid trade shifts and pending policy clarifications

By Caleb Monroe
Ottawa Mulls Reinstating EV Purchase Rebates as National Auto Strategy Nears

The federal government is considering the reintroduction of electric vehicle purchase rebates while finalizing a national automotive strategy. Officials are balancing climate targets and recent trade negotiations, and the strategy is expected to address the paused EV sales mandate, infrastructure needs, and foreign investment interest. Details on the scale of any renewed rebate remain undisclosed, with the plan expected later this month.

Key Points

  • Ottawa is weighing a return of federal EV purchase rebates while drafting a national automotive strategy; the government is attempting to balance climate objectives with shifting trade dynamics.
  • The iZEV program was suspended after funding ran out amid high consumer demand; it previously provided up to $5,000 toward eligible zero-emission vehicles.
  • The upcoming strategy is expected to address the paused federal EV sales mandate, infrastructure needs, and recent foreign investment interest stemming from trade negotiations with China.

Ottawa is deliberating the potential restoration of federal purchase incentives for electric vehicles as it prepares to unveil a comprehensive national automotive strategy. Sources familiar with the matter say the government is seeking to align its climate commitments with a changing international trade environment while charting policy for the auto sector.

The original incentive program, referred to as iZEV, was put on hold just over a year ago after available funding was exhausted amid a surge in consumer demand. Before its suspension, the program offered buyers up to $5,000 toward the purchase of qualifying zero-emission vehicles.

The forthcoming national strategy is expected to clarify several outstanding items for the industry. Among them is the status of the federal EV sales mandate, which has been paused after concerns were raised by manufacturers and other stakeholders. A senior Canadian official also indicated that the strategy will consider infrastructure requirements and recent interest from foreign investors.

Officials describe the shift in policy thinking as connected to recent diplomatic and trade developments. Following a high-profile trip to Beijing by Prime Minister Mark Carney to discuss automotive import terms, Canada agreed to reduce tariffs on as many as 49,000 Chinese-made electric vehicles entering the Canadian market each year. In return, Chinese authorities pledged to lower or eliminate trade barriers on a range of Canadian agricultural exports.

Those close to the file say the national auto strategy aims to provide clarity for a sector already experiencing pressure from evolving global trade patterns. Cabinet ministers have not disclosed specific figures or the total cost that might be associated with reviving a rebate program, leaving the precise fiscal scale uncertain.

For now, the government has not finalized details. The completed national automotive strategy is reportedly scheduled for public release later this month, at which point policymakers may provide firm positions on rebates, the paused sales mandate, infrastructure priorities, and how foreign investment will be integrated into the plan.


Context note: Reporting indicates consideration of a return to federal EV purchase incentives alongside a broader policy package, but officials have withheld precise financial or programmatic details pending the strategy's publication.

Risks

  • Uncertainty over the financial scale of any renewed rebate program - fiscal implications for federal budgets and the automotive sector remain unspecified.
  • Shifting global trade terms could continue to place the domestic auto industry under pressure, affecting manufacturers, dealerships, and related supply chains.
  • The paused EV sales mandate and pending policy decisions create regulatory uncertainty that could influence investment and rollout timelines for infrastructure and EV production.

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