Japanese automakers earned Canada's trust. Will China do the same with EVs? [Yahoo! Finance Canada]
Toyota Motor Corporation (TM)
US:NYSE Investor Relations:
toyota-global.com/investors
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Source: Yahoo! Finance Canada
Ottawa's recent decision to allow Chinese electric vehicle imports into the country has raised concerns in some quarters about issues ranging from Canadian jobs to national security. It isn't the first time the arrival of a foreign auto power has been met with trepidation. In the late 1960s and early 1970s, Japanese automakers Toyota Motor Corp. and Honda Motor Co. Ltd. were just breaking into the Canadian market. Toyota Canada was established in 1964, selling models such as the Crown and Land Cruiser. Honda Canada followed in 1969, first with motorcycles and power equipment, before introducing the popular Civic in the early 1970s. Sales were modest. The reaction was not. Labour unions and policymakers warned of job losses and widening trade deficits. Japanese vehicles were criticized as small, cheaply built and poorly suited to harsh Canadian winters. The broader fear was familiar: foreign competition would hollow out domestic manufacturing Consumers saw it differently . Dra
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