Why Canada hopes China will boost its auto manufacturing industry [MSNBC.com]
Stellantis N.V. Common Shares (STLA)
Company Research
Source: MSNBC.com
watch nowVIDEO4:3204:32What Canada hopes to gain from allowing Chinese EVsAutosCanada's decision to reduce barriers for Chinese electric vehicles is one piece of a larger pivot away from a reliance on the United States.The Canadian government is aiming to develop joint ventures with Chinese and Korean firms and trying to revive its manufacturing base with tax breaks as it faces a strained relationship with the United States and a decades-long decline of Canadian auto manufacturing.The country said in January it's allowing the importation of 49,000 Chinese EVs at a tariff rate of 6.1%, a dramatic walk-back of the 106% duty placed on them in October 2024. That would be about 3% of Canada's total new car market, and about 20% of its combined battery EV and plug-in hybrid market, according to Dunsky and Advisors, a Canadian research and advisory firm.In exchange for lifting restrictions, China has agreed to reduce tariffs on Canadian canola oil, one of Canada's top agricultural exports.
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- Why Canada hopes China will boost is auto manufacturing industry [MSNBC.com]MSNBC.com
- Exclusive-Stellantis resurrects diesel cars across Europe amid EV retreat [Yahoo! Finance Canada]Yahoo! Finance Canada
- Regulatory whiplash for automakers as EPA rescinds emissions standards [Seeking Alpha]Seeking Alpha
- California, environmental group plan to sue Trump administration over emissions repeal [CBS News]CBS News
- Stellantis issues 'do not drive' warning for 225,000 vehicles over dangerous air bag issue [FOX Business Network]FOX Business Network
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