Threat to Canadian electric vehicle industry dissipates with U.S. Senate deal

  • 📰 globeandmail
  • ⏱ Reading Time:
  • 32 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 16%
  • Publisher: 92%

Australia News News

Australia Australia Latest News,Australia Australia Headlines

Agreement would replace proposed made-in-America tax credits with made-in-North America incentives

A deal struck among Democrats in the U.S. Senate appears to have eliminated a threat hanging over the nascent electric vehicle manufacturing industry in Canada.

The amended language does away with the made-in-America criteria and instead says the tax credit would apply to electric vehicles assembled “within North America,” which means not only the United States but Canada and Mexico. “Now we can all breathe a sigh of relief,” Flavio Volpe, president of Canada’s Automotive Parts Manufacturers’ Association, said.

“Since the Prime Minister’s first meeting with President Biden last year, we have been relentless in underscoring that the original proposal would be harmful to both Canada and the US, so we’re glad to see that recognized in the new version of the bill,” Ms. Ng said.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 5. in AU
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Don't want Canadian anyway. Look at rogers,walmart,timhortons,target. It's gang that gives the okay or the heave.

Australia Australia Latest News, Australia Australia Headlines