I would say you're absolutely right. The reason Quebec and California and British Columbia all have the highest ZEV penetration rates, with the highest amounts in Canada being sold in those jurisdictions, is that they have their own version of Canada's electric vehicle availability standard, which was recently introduced for the 2026 model year. Our modelling has shown that if you look at how automakers would respond to that measure alone, it would essentially force them to bring more affordable models to the market. Our modelling, which we did with an academic at Simon Fraser University, predicts that prices would decline by about 22% below the baseline price trajectory by 2035.
Then again, I think it's important to recognize that we need additional policy measures to continue making EVs more affordable, in particular in the used vehicle market, where most people make their vehicle purchases. I think expanding the incentive to that market is one tool. If we look at things like requiring automakers to provide standardized EV battery health information, that's one way to actually help foster the used vehicle market. People don't actually know how degraded their battery is and that sort of thing, which makes it difficult for the market to price it. It's also looking at corporate car fleets and increasing the turnover of new vehicles into the used vehicle markets. There are some institutional buyers, like rental car companies, that buy a whole lot of new vehicles and sell them into the used vehicle market. They would be key drivers of used EV supply, potentially, if they could be encouraged to purchase more EVs.