going to assemble the cells into modules, forgoing the last US$10/kWh of IRA funding — to land the deal.Article content
The Canadian Minister for Innovation, Science and Industry, François-Philippe Champagne, left; Thomas Schmall, Group Board Member for Technology at Volkswagen AG, center; and Oliver Blume, CEO Volkswagen AGBut all this posturing over what Volkswagen did or did not get, and what Stellantis should — or should not — be compensated for, obfuscates another problem the federal Liberals may be just beginning to cotton to.
Currently, few cars are eligible for the full US$7,500 because of those restrictive assembly requirements. But, considering the levels of subsidization involved — and the resultant flurry of construction occurring south of the border — it’s virtually assured that, in the near future, all save the most expensive electric vehicles sold in North America will be eligible for both the battery manufacturer’s subvention and the consumer tax credits.
At the lower end of DoE’s estimation, if governments are still subsidizing as proscribed, that’s another US$50 billion in EV subvention. Again, in 2030 alone. Work in the consumer tax-credit numbers for the entire 2023-to-2032 timeframe, and we’re looking at somewhere in the order of upwards of another $175 billion.
A Stellantis assembly worker works on the interior of a Chrysler Pacifica at the Windsor Assembly Plant in Windsor, Ontario, Canada, January 17, 2023And, finally, I must apologize. Despite my many crunchings of numbers, I am leaving you with more questions than answers.
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