Feds remain confident in their bet on auto industry's electrification despite slowing sales

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Halifax Regional Police release Dartmouth suspect’s name and photo | SaltWire #news #novascotiaDespite a bumpy first quarter of 2024 that was sprinkled with announcements of slowing electric vehicle sales and production cutbacks, the Minister Responsible for the Federal Economic Development Agency of Southern Ontario Filomena Tassi said the federal government remains confident in its hefty bet on electrification.

In addition to various tax incentives aimed at luring EV companies to invest in Canada, the government extended its $5,000 EV rebate program for consumers by another two years to 2027 by topping up the fund by $607 million. Having landed four major battery plants in the past 26 months, three of which are in Ontario, the Liberal government is now trying to fill the holes in the EV supply chain.

“We know we are at the stage where we’re working with significant investors making these investments,” Tassi said. “This is part of the creation of the supply chain.“To do that you have to have these conversations with the OEMs to determine where are the gaps. We have leaders working with OEMs about where we should be going and how fill the gaps.”Regional Chamber of Commerce welcomed the federal government’s continued support of the EV sector.

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