Tesla opened its first international store in Canada inside Toronto’s Yorkdale Mall in 2012. Since then, the Elon Musk-owned automotive company has come a long way. The company detailed results from a recent study that observed the economic impact it’s had in Canada, via Enviroeconomics.
According to the organization, Tesla asked it to “assess the economic impact of their Canadian operations and spending, as well as the emission reductions and operational fuel savings associated with Tesla vehicles in Canada.” Enviroeconomics found that Tesla’s economic impact in Canada is significant, and it is continuing to grow.
It found that Tesla spending growth in the country increased by 25 percent year-over-year between 2019 and 2021 across automotive parts, charging stations, manufacturing and retail operations to $836 million in 2021, from $424 million in 2018. The company’s spending also benefited 51 economic sectors in Canada across a variety of industries.
In 2021 alone, the spending contributed $762 million to Canada’s GDP, while creating more than 6,600 full-time jobs for Canadians. Enviroeconomics says that 3,100 of these jobs are a direct result of Tesla operating in the country and spending on goods and services.
Apart from adding money to the Canadian economy, the company’s vehicles aided Canadians in saving an estimated $113 million in fuel costs in 2021 alone, and that number surely would have gone up in 2022. Tesla owners also helped avoid over 580,000 tonnes of CO2e emissions between 2018 and 2021.
Find the full report here.
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