The agreement is an extension of a memorandum of understanding previously signed between the two parties in August that aims to “deepen” co-operation on the building of EVs.By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc. You may unsubscribe any time by clicking on the unsubscribe link at the bottom of our emails. Postmedia Network Inc. | 365 Bloor Street East, Toronto, Ontario, M4W 3L4 | 416-383-2300A welcome email is on its way.
“This is just the beginning,” Blume said. “The EV market in North America is at a turning point and we’re committed to investing across the entire region.” The deal has been signed at a time when the United States, the bigger European economies, Canada and other democratic economies are looking to shift their industries’ supply chains away from China, which dominates the EV industry, and towards friendlier nations.Article content
One of the best examples of this is Washington’s recently passed Inflation Reduction Act , which offers a US$7,500 subsidy for EVs that are made primarily from materials sourced in North America. The EV market in North America is at a turning point and we’re committed to investing across the entire region
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