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…
Consumers increasingly concerned with EV insurance
July 28, 2022 by Alyssa DiSabatinoCanadians are becoming increasingly interested in getting an electric vehicle (EV) for their next purchase on one hand, but consumers also seem concerned about the cost of insuring electric vehicles, according to data from rate comparison site My Choice. Seventy-seven per cent…
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…