BC companies developing new technologies in the electric vehicle (EV) sector can apply for $4.18 million in new funding under the CleanBC Advanced Research and Commercialization (ARC) program, according to a BC Ministry of Energy, Mines and Petroleum Resources media release.
"With British Columbia's economic restart well underway, now is the time to decide the type of recovery we want to see in our province," stated premier John Horgan. "The ARC program is part of CleanBC and the work our government has been doing since day one to power a more sustainable economy."
The ARC program supports the growth of the EV sector by providing targeted funding for the research and development, demonstration and commercialization of made-in-BC technologies services and products.
"Through CleanBC, we are building a low-carbon economy and creating new jobs and opportunities across the province," stated Bruce Ralston, minister of energy, mines and petroleum Resources. "By supporting innovative companies, we can develop and produce made-in-BC clean technologies, and be a global leader in the growing electric vehicle sector."
The EV sector includes companies across all aspects of the EV supply chain, from raw materials to final consumer products, related to vehicles and vehicle components, batteries and fuel cells, charging stations and other technologies. The sector includes an estimated 250 companies in BC that provide 6,000 full-time equivalent jobs (up by 2,150 from 2015) and contribute $600 million to the provincial gross domestic product (GDP), almost double the 2015 GDP contribution of $373 million.
"Through CleanBC we are already seeing very positive results in the EV sector, and these investments will support expanded opportunity for companies, researchers and employees," stated minister of environment and climate change strategy George Heyman. "We are always looking for new ways to build on the knowledge and expertise that exists in British Columbia supporting innovation to build cleaner, stronger communities."
Funding submissions to the ARC program will be reviewed by a panel that includes experts from the province, local and federal governments and BC post-secondary institutions, according to the release.
To find out about BC's EV rebates, go to https://goelectricbc.gov.bc.ca/.