The canola-for-cars deal cooked up by Canadian Prime Minister Mark Carney and Chinese President Xi Jinping is about to bear its most exotic fruit yet: a shipment of sporty new Lotus Eletre EVs set to arrive in Montreal this month.
A shipment of 18 brand-new Lotus Eletre EVs will be the first Chinese-built electric vehicles from a Chinese-owned brand set to go on sale in Canada under an agreement that allows up to 49,000 Chinese EVs to be imported each year at reduced tariff rates, as the country looks to diversify its auto market and reduce its dependence on US brands.
In exchange for lower tariffs on Chinese EVs and a foothold in the North American market, Canada is hoping that China will reduce its current import duties on Canadian canola oil (currently at 100%) and pork (at 25%). Reuters reports that tariff relief on products including canola meal, peas, and lobster – currently set to expire at the end of this year – are also on the table.
“As long as we keep to the right track, at the right pace, towards the right direction, there will be a lot of potential for us to increase our trade,” explains Wang Yi, China’s Minister of Foreign Affairs. “As long as the two countries uphold the principle of mutual respect, equality, reciprocity … there will be nothing that we cannot resolve.”
