Montreal Electric Car Show Highlights Increase in Demand for EVs

This past weekend, the Montreal Electric Vehicle Show was held at the Olympic Stadium in this Quebec town. The stadium’s floor was filled with thousands of individuals who were testing and checking out various hybrid or electric vehicles on the market. Individuals were also allowed to test a number of scooters and electronic bikes on the indoor track.

Interviews show that attendees were concerned about abouth the environmental impact of gas-powered cars as well as how their lifestyles could become more sustainable. This, coupled with the climate change crisis, has prompted many to make the switch to using electric cars. However, as the demand increases, so do the wait times for these vehicles.

The copromoter of the Montreal Electric Vehicle Show, Louis Bernard, stated that individuals had to wait at least a year or more to acquire specific models. Bernard explained that it was hard for individuals to visit a dealership and find a car that met all of their specifications, particularly the new models.

One shopper, Jonathan Muccigrosso, revealed that despite reserving an electric vehicle months ago, he had yet to receive it but expected its delivery this fall. Muccigrosso explained that the electric vehicle he’d reserved — the Hyundai IONIQ 5 — would be delivered later in October of this year, six months after it was ordered.

Quebec plans to impose a ban on the sale of new gas-powered vehicles by 2035 as it works towards meeting its emission-reduction targets for greenhouse gases. The city would also like to have at least one and a half million EVs on the road by the year 2030.

Last week, the Canadian federal government revealed new measures designed to help the city achieve its objectives. In the announcement, the government stated that it would soon extend its electric car rebate program to include larger cars, including trucks, SUVs and vans, which hadn’t qualified in the past. The rebate will also be expanded to include minivans, pickup trucks and SUVs with a base model price of less than $60,000 as well as vehicles with a base model price of less than $55,000. The rebate will also be provided to hybrid cars with an electric range of 50 or more kilometers.

Omar Alghabra, the country’s minister of transport, explained that despite most Canadians being interested in buying electric vehicles, some help was required to boost sales. The Quebec government may soon have to increase charging stations around the city in preparation for a rise in the number of electric cars on the road.

The massive interest in such EV auto shows paints a bullish picture for the future of companies that are in the business of manufacturing electric vehicles, such as Lordstown Motors Corp. (NASDAQ: RIDE).

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