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\n\t\t\t\tChantal Kreviazuk changes Canadian anthem lyric to protest Trump remarks<\/span>\n\t<\/p>\n<\/p><\/div>\n\t\t\t<\/a>\n\t\t<\/li>\n<\/ul>\n<\/section>\n
He added the cost to replace both manufacturing bases would be \u201cphenomenal.\u201d<\/p>\n
\u201cUS$50 billion to onshore the entirety of the industry is a very conservative estimate. If you look at the amount of investment that has been announced by automakers and suppliers in North America since 2020, it\u2019s over US$288 billion,\u201d he said.<\/p>\n
It would also take a long time, he said.<\/p>\n
\u201cThat would take years, anywhere from three years to a decade, to build out assembly plants on that scale. And it would cost billions of dollars,\u201d he said.<\/p>\n
Volpe said some of America\u2019s big car companies might not survive that transitional decade.<\/p>\n
\u201cIt is an impossible hypothetical because the companies that you would force to do that would go bankrupt,\u201d he said.<\/p>\n
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Dimitry Anastakis, professor at the Rotman School of Management at the University of Toronto, said, \u201cYou\u2019d be literally talking about uprooting plants that have been in place for decades where companies have spent billions of dollars.\u201d<\/p>\n
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In recent years, car companies have invested billions in their Canadian facilities to match China\u2019s dominance in the EV sector.<\/p>\n
To move those plants would mean their investments would have to be written off.<\/p>\n
\u201cStellantis has that plant in Windsor, where they build the Dodge Charger. They just spent US$1.5 billion retooling that line so that it can build both internal combustion engine Dodge Chargers and EV Dodge Chargers,\u201d he said.<\/p>\n
\u201cIf you\u2019re going to try to bring that home, you\u2019d basically be uprooting US$2 billion investment.\u201d<\/p>\n
Kingston said the advantages of keeping Canada and Mexico within the North American supply chain go beyond just the dollar value.<\/p>\n
\u201cWhat makes us so attractive is we have a highly educated, highly skilled workforce. We have a history of automotive manufacturing and people that are very close to the industry and have skills that they can provide to the industry,\u201d he said.<\/p>\n
In 2024, Chinese automaker BYD dethroned Elon Musk\u2019s Tesla as the number one EV maker in the world. Kingston said the U.S. needs Canada to have any chance of beating China in the EV race.<\/p>\n
\u201cChina controls about 80 per cent of the inputs that go into advance batteries. The only other source that you have in the Western Hemisphere is Canada. Canada has the full suite of minerals required to build next generation electric vehicle batteries,\u201d he said.<\/p>\n
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<\/p>\n\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t2:04<\/time>Trudeau, premiers discuss easing interprovincial trade barriers<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/p>\n\t\t\t\t\t\t<\/span>
Anastakis said the North American consumer will suffer the consequences of Trump\u2019s trade war.<\/p>\n
\u201cWe in North America are going to face a future where, if tariffs go through and this uncertainty continues, cars are going to be much more expensive. We\u2019re going to have fewer choices on cars. We\u2019re going to be driving fossil fuel cars when the rest of the world accelerates their transition to EVs,\u201d he said.<\/p>\n<\/p><\/div>\n
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