Why Are Investors Eyeing Canada's Booming EV Market?

1 min read | May 01, 2021 07:50 AM AEST | By Team Kalkine Media

Google News:

Recent News

Could ASX 200 Rare Earth Stocks Be Entering a New Spotlight?

Australia Critical Minerals Policy and ASX 200 Rare Earth Sector Devel...

ASX Rare Earth Developers on ASX 200 Project Pipeline in Focus

Why Hammer Metals Is Drawing Attention Among ASX Penny Stocks

Make Kalkine Media
My Trusted Source

The Canadian government has also announced tax break for zero emission vehicle (ZEV) manufacturers, including battery makers, and hydrogen-powered vehicles.

Canada has also been pushing for low-carbon hydrogen economy and Alberta will be its first hydrogen hub.

Canada is known for its efforts to lead the global transition to eco-friendly electric vehicles. Now, with more American EV companies investing in Canada-based facilities, the country could be closer to its goal than ever before. Canadian trade union Unifor has voted in favour of General Motors’ plan. Ford Motor Company (NYSE:F) also plans to invest about US$ 1.2 billion in the production of battery-powered vehicles in Ontario.

The facility is expected to be functional by 2025. The federal and provincial governments have also promised to contribute over C$ 250 million for the Michigan-based automaker’s production bid, which has been greenlit by the members of trade union Unifor.

Disclaimer

The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media Pty Ltd (Kalkine Media, we or us), ACN 629 651 672 and is available for personal and non-commercial use only. The principal purpose of the Content is to educate and inform. The Content does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the Content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stocks of the company(s) or engage in any investment activity under discussion. Kalkine Media is neither licensed nor qualified to provide investment advice through this platform. Users should make their own enquiries about any investments and Kalkine Media strongly suggests the users to seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary. Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music that may be used on this website are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed/music used on this website unless stated otherwise. The images/music that may be used on this website are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source wherever it was indicated as or found to be necessary.