Canada can build an electric vehicle industry worth $48B a year — but it must act now: report – by Don Pitts (CBC News Business – September 14, 2022)

Canada needs a strategy quickly in order to capitalize on payoffs in jobs and economic growth

As climate change shows its growing destructive power in floods and droughts worldwide, even strong advocates for the transition from using fossil fuels to battery-powered electric vehicles know EVs won’t be enough to fix the problem.

But as the North American auto show opens to glitz and fanfare, a new report from two reputable Canadian research groups says that Canada has a brief window to be a major player in transforming an industry worth hundreds of billions of dollars annually into something more climate friendly — and to make money doing it.

Not only that, but the report suggests Canada has a chance to break a long tradition of exporting minerals and raw materials for others to turn into high-value goods. Instead, by building a homegrown electric vehicle supply chain, the country has the opportunity to get in at the bottom and create a large and lucrative domestic industry.

All the ingredients

“Canada has all the right ingredients to be a battery powerhouse,” said Evan Pivnick, from Clean Energy Canada, one of the authors of the new report. “But it’s vital that Canada acts swiftly and decisively, or it risks squandering thousands of jobs and billions of dollars.”

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