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October 14, 2020 | Electric Vehicles Are The Future, Canada Will Evolve or Die

Danielle Park

Portfolio Manager and President of Venable Park Investment Counsel ( Ms Park is a financial analyst, attorney, finance author and regular guest on North American media. She is also the author of the best-selling myth-busting book "Juggling Dynamite: An insider's wisdom on money management, markets and wealth that lasts," and a popular daily financial blog:

Canada is a global leader in auto and parts production yet one of the few auto-producing nations with no homegrown auto companies.  Twenty years ago, Canada was assembling about three million internal combustion engine (ICE) vehicles a year for foreign giants (Fiat-Chrysler, Ford, General Motors, Honda and Toyota), today this has dropped to about 2 million and falling as other countries lead on electric vehicle (EV) production.

We are falling behind not for a lack of skilled labour or opportunity but because of a backward-looking focus on sunk costs in fossil fuels and ICE. We can evolve or die.  Initiatives to think and invest forward are imperative and many Canadians get it.  Smart incentives in this direction are critical.  See:  Avenging the Avro Arrow:  Canada’s audacious play to build an all-Canadian electric car:

On Tuesday, the Automotive Parts Manufacturers’ Association, which represents Canadian companies that ordinarily supply parts to international automakers, announced the design for what it has branded Project Arrow – an effort to prove that a zero-emissions vehicle can be completely designed, engineered and built here. It’s now to proceed to the engineering stage, with the rollout of a full concept car targeted for 2022.

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October 14th, 2020

Posted In: Juggling Dynamite

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