B.C. companies that are 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.
“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,” said Premier John Horgan on Thursday. “The ARC program is part of CleanBC and the work our government has been doing since day one to power a more sustainable economy.”
Part of the Province’s CleanBC plan, 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-B.C. technologies, services and products.
“Through CleanBC, we are building a low-carbon economy and creating new jobs and opportunities across the province,” said Bruce Ralston, Minister of Energy, Mines and Petroleum Resources. “By supporting innovative companies, we can develop and produce made-in-B.C. 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 B.C. 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,” said George Heyman, Minister of Environment and Climate Change Strategy. “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 B.C. post-secondary institutions.
* Created in 2018, the ARC program provides funding to B.C. companies across all aspects of the EV supply chain. The goals of the program are to:
– Create employment opportunities and expand B.C.-based businesses in the electric vehicle sector;
– Attract international investment in the electric vehicle sector to B.C.; and,
– Expand exports of B.C.-based electric vehicle products, services and technologies.
* The ARC program awarded $1.19 million to five approved projects last year. This year, the program’s available funding has increased to $4.18 million.
* Ten years after the first electric vehicles hit B.C. highways, there are now more than 42,000 on the road.
* In 2019, electric vehicles represented 9% of new cars bought in British Columbia