Canada bet billions on an EV boom. Was it too much, too soon?
1 hour ago
The federal and provincial governments bet billions on the rapid rise of the electric vehicle industry. But major EV and battery projects in Ontario, Quebec and British Columbia have since been delayed, cancelled, suspended, substantially changed — and in one case, gone bankrupt — as automakers and suppliers adjust to weaker-than-anticipated demand.
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The steel frame of PowerCo's battery plant rises from the construction site in St. Thomas, Ont. Volkswagen's battery subsidiary now says production at the plant will begin in 2029, two years later than originally planned. (Patrick Morrell/CBC)
The federal and provincial governments bet billions on the rapid rise of the electric vehicle industry. But major EV and battery projects in Ontario , Quebec and British Columbia have since been delayed , cancelled , suspended , substantially changed — and in one case, gone bankrupt — as automakers and suppliers adjust to weaker-than-anticipated demand.
The latest is Volkswagen's massive PowerCo battery plant in St. Thomas, Ont., where production has been pushed back two years to 2029 , because of "evolving market demand."
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