‘They see stability and calm here’: Canada looks like a good place to invest to some EV producers – by Gabriel Friedman (Sudbury Star – December 5, 2022)


Canada offers ‘stability, predictability and the rule of law,’ says Industry Minister François-Philippe Champagne

The electric vehicle transition in North America kicked off nearly a decade ago with Tesla Inc. chief executive Elon Musk moving at breakneck speed, but now it’s shifting to a different phase: the slow and boring chapter in which automakers take months — or years even — to decide where to build their EV operations.

That may be a good thing for Canada as it seeks to grow its auto sector. “It’s clear that energy security, food security and supply chain resiliency is top of mind to leaders around the world,” Industry Minister François-Philippe Champagne said at a press conference on Dec. 5 in Germany, where he was meeting with Volkswagen AG and other automakers. “Canada is in many respects the answer.”

Champagne has travelled around the world, and for months, he’s preached the same message to any automaker or battery maker who would listen: these days, “stability, predictability and the rule of law are in high demand and short supply” in the world, but Canada has all of them.

He’s not the only politician who’s taken note of the rising geopolitical tensions: amid high inflation, a lingering pandemic, growing tensions between China and other world powers, and Russia’s invasion of Ukraine, some companies and politicians have started praising Canada’s reputation as a safe, reliable, and perhaps boring, partner as one of its best assets.

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