October 17th, 2024

Auto industry leaders emphasize urgency of Canadian EV response as U.S. cash flows

By The Canadian Press on February 8, 2023.

A General Motors BrightDrop electric delivery vehicle sits on a track at GM Canada’s Canadian Technical Centre McLaughlin Advanced Technology Track in Oshawa, Ontario on Monday April 4, 2022. Automotive industry leaders say the need for Canada to prepare for the electric vehicle transition has taken on significantly greater urgency as money starts to flow in the U.S. from massive government incentives. THE CANADIAN PRESS/Frank Gunn

TORONTO – Automotive industry leaders say the need for Canada to take action on the electric vehicle transition has taken on significantly greater urgency as money starts to flow in the U.S. from massive government incentives.

Speaking at an electric vehicle conference in Toronto Wednesday, GM Canada president Marissa West says that sense of urgency can’t be understated as the company looks to secure its mineral and manufacturing capabilities for the years ahead.

West says Canada has a significant advantage thanks to renewable energy supplies, but that the speed of project approvals and inconsistent policies between provincial and federal governments are barriers.

Both West and Linamar Corp. chief executive Linda Hasenfratz emphasized the need for government support to balance the funding being provided by the Inflation Reduction Act in the U.S.

The Canadian industry is set to benefit from many aspects of the U.S. act, but West says that areas like manufacturing capacity will especially require the Canadian government to step in.

Unifor President Lana Payne says the urgency comes as manufacturers look to restructure whole supply chains to be closer to home, which along with the shift to electric vehicles creates risks and opportunities for Canadian workers.

This report by The Canadian Press was first published Feb. 8, 2023.

Companies in this story: (TSX:LNR)

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