ICYMI: Quarter-million jobs may be at stake for Canada’s auto industry — via drivingdotca Autonews AutoIndustry Jobs
— the ultra-protectionist legislation so generously incentivizes locating battery cell plants in the U.S. that it’s hard to imagine Canada getting any new manufacturing facilities in the next 10 years.
A bit of simple math says that a similar plant, built just south of our border, would recoup up to US$2 billion — each and every year! — from the time the plant is projected to open in 2025 until 2032, thanks to that credit. In a worst-case scenario, if the IRA is enacted as written, it will be an overwhelming dis-incentive to building new cell manufacturing plants here in the Great White Frozen North.
Not quite. As Sweeney tells it, even in his company’s best-case scenario, Trillium didn’t project having more than three major battery plants come to Canada. By comparison, he says we have some 10 major car assembly facilities. So, while it would be fair to say that the possibility of losing battery cell facilities in Canada is not exactly welcome news, what is crucial is keeping those aforementioned car assembly plants humming.
If, however, as Sweeney notes, that Sudburian nickel instead went to GM’s Bécancour, Quebec plant and is processed there into cathode active material, the economic benefit to Canada would be sixfold compared with just “ripping it and shipping it” abroad. That’s more money in local economies, and more jobs that stay here in Canada instead of being sent overseas.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
BMW driver arrested after fatal NYC crash with motor scooterThe deadly incident occurred around 1:15 a.m. Saturday at 37th Avenue and 82nd Street in Jackson Heights, cops said.
Read more »
Driver arrested after fatal crash with motor scooter in Jackson HeightsA 24-year-old driver was arrested in Queens after fatally crashing with a motor scooter Saturday morning.
Read more »
Driver charged with DWI in Jackson Heights fatal crash with motor scooterA driver has been charged with DWI in connection to a crash that killed the operator of a motor scooter, police say.
Read more »
Kelly Oubre Jr., Hornets use big third quarter to beat WolvesKelly Oubre Jr. scored 28 points and the Charlotte Hornets used a strong second half to overcome the visiting Minnesota Timberwolves for a 110-108 victory Friday.
Read more »
Nets collapse in fourth quarter, fall in ugly loss to PacersThe Nets demonstrated exactly what has so frustrated their head coach – and showed plenty of frustration themselves in the process.
Read more »