Part 5/10:
As trade tensions escalate, Canada risks losing its foothold within the North American automotive market—the world's second-largest market, surpassed only by China. If the crisis extends, Canada may struggle to compete with nimble international players, particularly as Chinese automakers ramp up production of electric vehicles (EVs), batteries, and components.
While the demand for electric vehicles is growing globally, with a 30% increase elsewhere, Canada has seen a decline in EV registrations for the first time in 14 months, mirroring challenges faced by Tesla in the U.S. market. This downturn can undermine Canada’s competitive positioning in a rapidly evolving industry that is shifting toward sustainable technologies.