Keyword
electric vehicles
Expect more total losses with electric vehicles: report
February 13, 2024 by David GambrillCanadian auto insurers can expect to write off electric vehicles (EVs) rather than try to repair their expensive, damaged batteries, says a report by Morningstar DBRS. “The most expensive component of an EV is the battery, often embedded in the…
Electric truck/bus maker cuts jobs
November 27, 2023 THE CANADIAN PRESSMONTREAL – The Lion Electric Co. says it is cutting 150 jobs or about 10% of its total workforce in a move to reduce costs and improve its ability to reach its profitability objectives. Lion Electric chief executive and founder…
What insurers pay to repair EVs
September 11, 2023 by David GambrillAlthough electric vehicles in Canada cost an average of $1,328 more to repair than vehicles with internal combustion engines (ICE), EVs are less likely to be written off as a total loss, says a Mitchell report. The cost of the…
How rising interest in electric vehicles affects auto insurers
May 18, 2021 by Jason ContantThe number of customers looking to insure an electric vehicle (EV) is rising, which is having a ripple effect on auto carriers due to the increased cost to insure these vehicles, according to a recent report from LowestRates.ca. Year-over-year, there…
BRP to invest $300M over five years to create electric versions of its vehicles
March 26, 2021 Jon Victor - THE CANADIAN PRESSMONTREAL – BRP Inc. announced an ambitious expansion into electric vehicles on Thursday, investing $300 million over five years as the company looks to adapt to market trends and broaden its appeal to a new set of customers. The maker…
Why electric luxury SUVs may give your liability claims costs a jolt
November 11, 2019 by Adam MalikSeveral car makers have announced ambitious plans to go electric in the next decade or two, but as more electric vehicles (EVs) hit the streets, there could be an increased insurance risk, according to one insurer. With the growing popularity…
B.C. government launches incentives for zero-emission vehicles
February 6, 2017 by Canadian UnderwriterBritish Columbia’s Minister of Energy and Mines has announced an investment of $40 million to encourage British Columbians to “make the switch to zero-emission vehicles, reduce greenhouse gas emissions and support investment in made-in-B.C. green technology.” Bill Bennett announced the…
PM hails national climate change deal, but without Saskatchewan, Manitoba
December 11, 2016 Bruce Cheadle - THE CANADIAN PRESSOTTAWA – Prime Minister Justin Trudeau declared victory Friday in his campaign to craft a national “framework” agreement on climate change – even though Saskatchewan and Manitoba refused to sign on to the deal and British Columbia claimed a major…