Ford's latest losses reflect broad challenges in Canada's EV sector [BNN Bloomberg (Canada)]
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Source: BNN Bloomberg
Earlier this week, Ford announced it will take a $19.5 billion charge on its EV business and move away from its EV plans because of weak consumer demand, ending production of its fully electric F-150 Lightning pickup truck. The pullback shows how difficult it has been for automakers to justify large EV investments without strong demand and policy support, Flavio Volpe, president of the Automotive Parts Manufacturers' Association explained to BNN Bloomberg. “These companies are not charities, and they're not state-owned enterprises like the Chinese,” said Volpe. “They've got to make a profit to invest into new product, and they've got to make a product to be able to continue to produce vehicles.” Oakville, Ont.'s scrapped and delayed plans in Ingersoll and Windsor The Ford plant in Oakville, Ont. was touted as Canada's flagship EV hub. Ford announced a $1.8 billion plan to turn its Oakville assembly plant into an electric vehicle manufacturing hub for its three-row electri
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