financetom
Business
financetom
/
Business
/
Toronto excludes Tesla from EV incentive due to US trade war
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Toronto excludes Tesla from EV incentive due to US trade war
Mar 17, 2025 4:11 PM

By Wa Lone

TORONTO, March 17 (Reuters) - Toronto is no longer

providing financial incentives for Tesla vehicles

purchased as taxis or ride shares due to trade tensions with the

United States, the city's mayor, Olivia Chow, said on Monday.

The city is promoting the adoption of electric vehicles

purchased as vehicles for hire by giving drivers and owners a

reduction in licensing fees and renewal fees until the end of

2029, to help it lower emissions.

But as of March 1, Tesla vehicles are no longer eligible for

the incentives, Chow said at a news conference.

"The vehicles for hire, like taxis, will have to find a

different kind of car," she told Reuters after the news

conference. "There are other electric cars they could purchase."

The exclusion will continue until trade issues with the U.S.

are resolved, she said.

Tesla did not immediately respond to a request for comment.

Chow told Reuters that the decision was made to target and

respond to Tesla CEO Elon Musk, who is a top adviser to U.S.

President Donald Trump. Trump has called for Canada's annexation

and imposed tariffs on Canadian products, angering Canadians.

"We have certainly said that if you want to buy a Tesla, go

ahead, but don't count on taxpayer money to subsidize it," she

said.

Chow said the financial impact of the move would not be

large.

"It's more symbolic," she said.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Exclusive-TSMC considering advanced chip packaging capacity in Japan, sources say
Exclusive-TSMC considering advanced chip packaging capacity in Japan, sources say
Mar 18, 2024
TOKYO (Reuters) -Taiwan's TSMC is looking at building advanced packaging capacity in Japan, according to two sources familiar with the matter, a move that would add momentum to Japan's efforts to reboot its semiconductor industry. The deliberations are at an early stage, they added, declining to be identified as the information was not public. One option the chipmaking giant is...
Logitech Finance Chief Charles Boynton to Depart; Company Reaffirms 2024 Outlook
Logitech Finance Chief Charles Boynton to Depart; Company Reaffirms 2024 Outlook
Mar 18, 2024
04:46 AM EDT, 03/18/2024 (MT Newswires) -- Logitech International ( LOGI ) said Monday that Chief Financial Officer Charles Boynton will be leaving the company to pursue another career opportunity. Boynton will remain with the company through mid-May. A successor will be named at a later date, the company said. Logitech ( LOGI ) reaffirmed its financial outlook for fiscal...
Turkey moves against Meta over Threads-Instagram data sharing
Turkey moves against Meta over Threads-Instagram data sharing
Mar 18, 2024
ISTANBUL, March 18 (Reuters) - Turkey's competition authority imposed on Monday an interim measure on Meta Platforms Inc ( META ) meant to hinder data sharing between the Instagram and Threads platforms as it investigates possible abuse of the company's dominant market position. In December, the authority launched an investigation into Facebook parent Meta over a possible violation of competition...
RTX's Pratty & Whitney-led Consortium Says Successfully Tests Sustainable Jet Fuel
RTX's Pratty & Whitney-led Consortium Says Successfully Tests Sustainable Jet Fuel
Mar 18, 2024
04:34 AM EDT, 03/18/2024 (MT Newswires) -- RTX's (RTX) Pratt & Whitney was among a consortium of international engineering and aviation firms that said Monday that they had successfully tested a jet engine with sustainable fuel in Germany's Hannover. The aviation fuel was made of hydroprocessed esters and fatty acids synthetic paraffinic kerosine produced by the Finnish oil refinery Neste....
Copyright 2023-2026 - www.financetom.com All Rights Reserved