Canada's EV production faces delays due to Umicore's Ontario plant postponement and declining consumer interest.
Canada's electric vehicle (EV) production is facing significant delays, particularly with Umicore's battery plant in Ontario, which was set to produce batteries for a million EVs annually. The company cites a worsening EV market for the postponement. Consumer interest in EVs is also declining, with only 11% of Canadians strongly considering purchasing one. Despite $46.1 billion in planned investments and $52.5 billion in government support, experts suggest the industry needs more time to mature.
September 17, 2024
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