The Canadian government will extend the zero-emission vehicle incentive for businesses to include offroad vehicles, like mining fleets, Prime Minister Justin Trudeau announced at a major mining conference in Toronto on Monday.
The incentive would make it more affordable for businesses to invest in zero-emission vehicles by providing a 100% write-off of the purchase cost of eligible vehicles and automotive equipment in the year they are put in use.
For a 100% deduction, vehicles would need to be available for use before 2024. The deduction decreases to 75% for 2024 and 2015 and to 55% for 2026 and 2027.Vehicles that are not available for use before 2028 would not be eligible for the accelerated deduction allowance.
“Electric vehicles are not only for city streets. They are also for cleaner mining operations that protect the health of mineworkers and the environment,” Trudeau said.