A few important highlights from this month's Electric Vehicle Innovation and Technology #EVIT2023 conference.
The event was headlined by a few notable speakers, including:
Marissa West, President and Managing Director, GM Canada
Linda Hasenfratz, CEO, Linamar Coproration
@Lana Payne, National President, UNIFOR
Jean Marc Lecler, CEO, Honda Canada
Victor Fedeli, Minister of Economic Development, Gov't of Ontario
Jayson Myers, CEO, NGen Canada
Rachel Doran, Director, Clean Energy Canada
Rob Wildeneboer, Co-Founder, Martinrea
+ Many Others
Some of our observations included the following:
1. Canada has a significant opportunity to create a vertically integrated value chain for EV Batteries and components.
- We have the natural resources, technology, workforce and systems to be a significant global player.
-One of our advantages is our clean electric grid and more sustainable mineral extraction methods and product development methods.
2. The ability to move quickly with a strategic plan supported by the government will determine success.
- Consultations for Raw minerals must include local communities and first nations
- Permitting for new manufacturing facilities should not take years
- The government needs a clear plan
3. The Inflation Reduction Act (IRA) and the slow historic response from Canada can translate into a significant missed opportunity.
- The IRA strongly favours US investment, yet its language is friendly towards North American partners (opposed to China and others).
- If Canada drags its feet, it does not invest or reduce regulatory time frames. It can spell trouble particularly if we end up selling Raw materials for EV components instead of processing them.
Overall, the theme of opportunity, risk and urgency was associated with "re-tooling" the automotive sector.
