EV transition could add $48 billion to economy, but only ‘if Canada plays its cards right’ – by Gabriel Friedman (Financial Post – September 15, 2022)


Canada needs to invest wisely to ensure it adds valuable jobs in key supply chain areas, report says

The federal and provincial governments have committed billions of dollars in recent years to entice private-sector investments in an electric-vehicle supply chain in Canada, but a new report suggests that may just be the beginning of what’s needed to succeed.

Clean Energy Canada and the Trillium Network for Advanced Manufacturing, two think-tanks respectively based at Simon Fraser University in Vancouver and Western University in London, Ont., released a 28-page report this week that concludes the government needs to ramp up financial and policy support if Canada is to ever realize the full economic opportunities inherent in the transition to electric vehicles (EVs).

“If Canada plays its cards right, a domestic EV battery supply chain could support up to 250,000 jobs by 2030 and add $48 billion to the Canadian economy annually,” the report said.

Without additional government support, the report said Canada’s EV battery supply chain is unlikely to support more than “60,000 jobs and contribute only $12 billion in GDP — fulfilling only about a quarter of both its jobs and GDP potential.”

For the rest of this article: https://financialpost.com/commodities/energy/electric-vehicles/ev-transition-could-add-48-billion-to-economy-but-only-if-canada-plays-its-cards-right