Mr. Speaker, I am thankful for the opportunity to speak about the government's new electric vehicle affordability program.
Canada has already made significant progress toward increased electric vehicle adoption. For example, the incentives for zero-emission vehicles, or iZEV, program, which ended last January, provided incentives for over 560,000 vehicles between 2019 and 2025. Combined with other federal, provincial and territorial measures, the iZEV program helped Canada reach a market share of 5.4% for new light-duty electric vehicles in 2024, and that is up from 3.1% in 2019.
We know that there is more work to be done and that EV affordability remains one of the top barriers to greater adoption. That is why Canada's auto strategy includes a new $2.3-billion electric vehicle affordability program. This program is expected to incentivize over 840,000 new electric vehicles over the next five years.
The program has already garnered significant attention and interest from Canadians as well as automakers. As of today, there are almost 20 EV models listed on Transport Canada's website that consumers can choose from, and we expect this list to grow as manufacturers and dealerships adjust their pricing in the coming years. This program will drive down EV prices across the country and bring affordability to a larger segment of the Canadian population, and Canadians can stand to benefit from these incentives right away, as they are applied directly at the dealership.
To strengthen our domestic industry, Canadian-made EVs will be exempt from the price cap, supporting good jobs, Canadian workers and, indeed, Canadian innovation. The electric vehicle affordability program is an element of Canada's auto strategy, which, when coupled with plans to develop a national charging infrastructure strategy, will strengthen domestic demand by making EVs more affordable and reliable for Canadians.
The strategy will also help our auto industry navigate both the challenges and opportunities stemming from the rupture and reshaping of global trade relationships, and it will position Canada well to attract new investment and diversify export markets by leveraging free trade agreements.
We know Canada's EV manufacturing is in the early stages of development, and that is why this automotive strategy is focused not just on supporting EV manufacturing but also on building new strategic partnerships with global EV leaders in manufacturing, such as China. This will further diversify the trade and be a catalyst to new investment in the automotive sector. This, coupled with the announcement that we will be entering into a new joint venture with Chinese investment in Canada, will allow for Chinese EV imports into the Canadian market.
I raise this to highlight how Canada is adjusting to the new realities of global trade relationships to ensure that Canada's automotive sector remains robust and competitive in years to come. In practical terms, this means that for the foreseeable future, Canada will see fewer EV imports from the United States in favour of EVs imported from other, more reliable trading partners.
I will conclude with this. Canada is demonstrating to the world that it will be charting a new course on electric vehicles. We will do so by continuing to invest in the auto sector to ensure that we are building the cars of tomorrow, and we will do so in a way that reflects the new market realities while sending strong signals of where we want to go in the future.