Canada fell five spots in an index that rates how prepared nations are to bring electricvehicle into their economies, despite a notable increase in government efforts to develop the sector in the past year. — via drivingdotca autonews autoindustry ...
The demand for EVs, which require batteries sourced from critical minerals such as lithium, has increased in recent years as the world tries to decarbonize. Canada, which is rich in battery metals and allocated a record $3.8 billion in its 2022 federal budget to create a steady flow of them, is looking to build an industry to take advantage.
EY believes that Canada’s launch plans for EVs are on par with its peers, with companies such as Tesla, Stromvolt Americas and LG building factories to make batteries here, but it’s lagging in local production plans, infrastructure, and consumer demand.
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