Latest news with #AutomotiveNewsCanada
Yahoo
5 days ago
- Business
- Yahoo
Ontario to back ‘handful' of mineral projects with $500M fund
The Ontario government plans to make big-ticket investments in 'three or four' critical minerals processing projects using $500 million allocated in the province's 2025 budget, according to Vic Fedeli, Ontario minister of economic development, job creation and trade. The narrow focus of the Critical Minerals Processing Fund will let the province make large contributions to a 'handful' of major projects, as opposed to delivering small-scale support to many, Fedeli told Automotive News Canada. 'There are many, many mines in Ontario that want to open, and we want to make sure that every ounce of ore that comes out of the ground gets processed here in Ontario.' Sign up for Automotive News Canada Breaking Alerts and be the first to know when big news breaks in the Canadian auto industry. The province's latest budget, introduced at Queen's Park in mid-May, received royal assent June 5. The province is already taking applications for the new fund, Fedeli said, pointing to nickel-mining projects in Sudbury and Timmins, as well as developments in the Ring of Fire region 500 kilometres northeast of Thunder Bay as possible candidates for a share of the $500 million. The fund is not directly tied to the province's electric-vehicle battery supply chain, but the nascent sector looks likely to benefit from the provincial investment capital. Fedeli pointed to Frontier Lithium's planned processing plant in Thunder Bay as an example of the type and scale of the projects that the new fund will support. The Ontario company is developing a lithium mine about 500 kilometres northwest of Thunder Bay and a conversion plant that will process mined material into battery-ready lithium salts in the city. The provincial government committed up to $160 million, separately from the new fund, in March to the processing portion of the project. Meanwhile, Ontario intends to designate the mineral-rich Ring of Fire as a so-called special economic zone 'as quickly as possible,' Premier Doug Ford said June 5. Ford said he and several ministers will consult all summer with First Nations about the new law that allows the Ontario government to suspend provincial and municipal rules before making the designation. 'We need to start moving on that,' Ford said of the designation for the Ring of Fire. The law seeks to speed up the building of large projects, particularly mines. Ford's government has committed $1 billion to develop the Ring of Fire. Three First Nations have signed various agreements with the province to help build roads to the region, as well as develop the area where it connects to the provincial highway system. However, First Nations across Ontario have risen up to protest the province's new law, livid about what what they describe as the government's audacity to strip away any law it sees fit for any project at any time. They say it tramples their treaty rights and ignores their concerns. The First Nations want to be part of development, including mines, but want to be equal partners with the province on the legislative side. — The Canadian Press contributed to this report.
Yahoo
22-05-2025
- Automotive
- Yahoo
LeddarTech lays off 95% of staff amid cash crunch
LeddarTech Holdings Inc. said May 20 that it had laid off 138 staff, representing 95 per cent of its workforce, as the company buys time for ongoing talks with its creditors. The automotive software company said the layoffs, which it presented as temporary, affect all departments at its offices in Quebec City, Montreal and Tel Aviv. 'Such [a] measure will provide the company with additional time to continue to actively evaluate potential alternatives relating to a restructuring of [LeddarTech's] obligations, a sale of the business or certain of its assets, strategic investments and/or any other alternatives,' the company said in a release. Seeking creditor protection under the Companies' Creditors Arrangement Act is among the possibilities being considered, LeddarTech added. Sign up for Automotive News Canada Breaking Alerts and be the first to know when big news breaks in the Canadian auto industry. The Quebec City-based company warned this month that it would likely violate an agreement with existing lenders if it failed to raise fresh capital by May 23. Talks for additional financing are ongoing but have not yet yielded results, the company said May 20. LeddarTech, which was founded in 2007 as a lidar maker, transitioned away from the sensing hardware in 2022 in favour of autonomous vehicle software. Its technology relies on artificial intelligence (AI) and computer-vision algorithms to blend data from an array of sensors, providing autonomous vehicles or advanced driver-assistance systems (ADAS) complete views of their environment. The company has faced dwindling cash reserves for months as it works to secure automakers and Tier 1 customers. A US $10-million licensing agreement struck with chipmaker Texas Instruments in December provided several months of additional runway, but the company had just Cdn $4.1 million in cash as of May 8. LeddarTech reported a $16-million loss for its fiscal second quarter of 2025 on May 14. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
22-05-2025
- Automotive
- Yahoo
Stellantis postpones Canadian-made 2026 Dodge Charger R/T model amid tariffs
A Canadian automobile journalist says Stellantis's decision to postpone production of a Windsor, Ont.-made Dodge Charger model should be concerning for workers at its Windsor Assembly Plant — but it should not be a cause for panic. Greg Layson says Stellantis didn't sell a large number of electrified Chargers in the United States, so the company's announcement Wednesday that it plans to postpone the 2026 Dodge Charger Daytona R/T, the base model of its EV muscle car, might be an effort to appease U.S. President Donald Trump without costing the company a lot of money. "What I can tell you about Windsor is I've been told from people on the inside that, yes, they are focusing on internal combustion engine versions of the Dodge Charger," said Layson, the digital and mobile editor for Automotive News Canada. "That includes retooling the engine line, I'm told to put in a bigger engine." Stellantis says it plans to add a four-door Charger model in 2026, and add another new model in the second half of 2026. Dodge CEO Matt McAlear issued a statement on Wednesday blaming the decision to postpone the Daytona R/T model on a need to "continue to assess the effects of U.S. tariff policies." No impact on jobs, company says The Trump administration has levied 25 per cent tariffs on non-Canada-U.S.-Mexico Agreement (CUSMA)-compliant vehicles assembled in Canada, though there are carve-outs for American-made parts. Stellantis says the decision has no impact on jobs. The Windsor Assembly Plan employs roughly 4,500 people in the Windsor area. There have been several shutdowns at the facility since the trade war between Canada and the U.S. began earlier this year. Most recently, the company announced in early May there would be a mix of shutdowns, reduced hours and full production over 12 weeks — a change the company did not attribute to tariffs. The facility is best known for producing Chrysler Pacifica minivans. Last December, production began on electric Dodge Charger models. In the short-term, according to Layson, Stellantis's latest move will mean fewer vehicles rolling off the line and the postponement of a planned third shift at the plant — something Stellantis confirmed in early May. "You're going to see more shifts smoothing; I don't think you'll see permanent layoffs," Layson said. "I don't think anyone should be panicking — not in Windsor. The concerns should be greater up the 401 in places like Brampton where that factory is idle, in places like Oakville where that Ford factory is currently being retooled at a much slower pace than everyone thought." Production on the 2026 Charger Daytona R/T was supposed to begin later this year. The company has not specified when it might resume. Industry Minister Mélanie Joly told reporters Thursday morning that she talked with the CEO of Stellantis, who assured her that Canadian jobs were protected. WATCH | Industry minister says Stellantis CEO her 'all jobs' in Canada would be protected: "We agreed that we would continue conversations in a positive way regarding EV investments in Canada, and I'm convinced that we can get to a good place," she said. "Obviously, this decision is linked to U.S. tariffs, and so, as we said, we would continue to fight for Canadian jobs, create new ones and grow the Canadian economy."
Yahoo
26-03-2025
- Automotive
- Yahoo
Quebec resumes $4,000 EV rebate, but adds new fees for owners
Quebec sent mixed messages to the electric-vehicle market in its 2025 budget tabled March 25, vowing to resume provincial zero-emission vehicle rebate payments April 1, while also introducing a $125 annual fee and eliminating several cost-saving exemptions for EV owners. The return of incentive payments up to Cdn $4,000 under the province's popular Roulez Vert, or Roll Green, program follows a two-month hiatus amid budgetary constraints. The cash crunch was prompted by a large volume of orders in late 2024, as Quebec buyers looked to secure ZEVs before incentive payouts were reduced Jan. 1 to $4,000 from $7,000. According to data from S&P Global Mobility, ZEV sales in Quebec climbed to 42 per cent of all sales in the fourth quarter, far and away the highest tally on record for any Canadian region. Sign up for Automotive News Canada Breaking Alerts and be the first to know when big news breaks in the Canadian auto industry. Yet Quebec's ZEV penetration rate was cut in half in January, preliminary S&P data showed, as rebate payouts were reduced in Quebec and the federal incentive program ran out of funding. The Roulez Vert program was on pause through February and March. While the return of rebates could reinvigorate sales, the program is still operating on borrowed time. As announced in 2024, payouts for ZEV buyers will be reduced to $2,000 at the start of 2026 and phased out entirely in 2027. Quebec also coupled its renewed support for EV buyers with added costs for EV owners. To offset lost government revenue from fuel taxes, the province will introduce a $125 annual fee for battery-electric vehicle owners, as well as a $62.50 fee for plug-in hybrid drivers. The move will level the playing field for ZEV owners, who 'enjoy the same benefits' of the province's road network, without paying for its upkeep, the budget said. The new fee will be introduced in 2027 and indexed to inflation. Similarly, ZEV owners will no longer get free access to tolled bridges and ferries across the province starting in 2027. The two measures are expected to raise close to $200 million in annual revenue for the province by fiscal year 2029-30. Quebec's 2025 budget will also alter how the province's longstanding luxury-vehicle tax is administered. Since 1998, the province has collected an annual registration fee equal to one per cent of a vehicle's value over $40,000. The budget proposes raising this threshold to $62,500, bringing it more in line with contemporary vehicle pricing. Zero-emission vehicles worth up to $75,000, however, have been exempt from the tax until this point. That will change at the start of 2027, when the luxury tax will apply to all vehicles valued at more than $62,500.
Yahoo
20-03-2025
- Automotive
- Yahoo
EVs outperform ICEVs on lifetime emissions, study finds
Electric vehicles in Canada generate on average only about a quarter of the lifecycle emissions produced by comparable internal-combustion-engine models, and handily outperform gasoline and diesel vehicles even on the country's dirtiest electricity grids, according to a recent study from TD Economics. The bank's analysis published March 4 found cradle-to-grave emissions savings for the average battery-electric vehicle in Canada ranged from 70-77 per cent compared to ICEVs, depending on the vehicle segment. 'This relationship holds even in a scenario where the lithium-ion battery of the BEV is replaced before the vehicle reaches its end of life though the average emissions savings decline to 59-69 per cent,' the study said. Sign up for Automotive News Canada Breaking Alerts and be the first to know when big news breaks in the Canadian auto industry. The assessment incorporates every stage of a vehicle's lifecycle, including the extraction of raw materials used as inputs, the manufacturing process, production and consumption of fuels to power the vehicle, maintenance and end-of-life disposal. It assumes drivers will put 15,000 kilometres on their odometers annually and gives the vehicles lifespans of 18 years. While EVs save on lifecycle emissions across the country, the cleanliness of the provincial power grid determines how much. In Quebec and Manitoba, which generate nearly all their power at hydroelectric stations, emissions savings for an electric- versus gasoline-powered SUV lead the country at about 83 per cent. In Ontario, where nuclear, hydro and renewables make up 90 per cent of electricity-generating capacity, emissions savings are about 80 per cent. Savings are less pronounced in provinces that rely heavily on coal, natural gas and diesel for their electricity-generating capacity. Savings for an electric- over a gasoline-powered SUV are about 55 per cent in Alberta and about 45 per cent in Saskatchewan. In sparsely populated Nunavut, where electricity is produced entirely using diesel generators, lifecycle emissions savings for EVs versus ICEVs fall to a national low of 25 per cent, the report found. While EVs outperform ICEVs throughout their lifecycle, the TD report found upfront resource extraction and manufacturing emissions for EVs in the 2024 model year are about double those for ICEVs. EV batteries are the primary contributor, requiring 'vast quantities' of metals and energy intensive processing steps. But running on electricity instead of gasoline or diesel allows EVs to quickly make up ground. In Canada, the average EV pulls ahead of the average ICEV on lifecycle emissions in the second year of ownership, according to the report. More efficient use of energy by electric motors is another contributing factor that gives EVs a significant edge over ICEVs. EVs make direct use of 87-91 per cent of the energy in their batteries to turn their wheels, including the power recovered through regenerative braking, the report found. This compares to ICEVs that use just 16-25 per cent of the energy in gasoline for propulsion. Engine, drivetrain and idling losses result in up to 80 per cent of the energy in gasoline being wasted in ICEVs, according to TD. This gulf in powertrain efficiency allows EVs to outperform ICEVs on lifecycle emissions, even in provinces and territories such as Alberta, Saskatchewan and Nunavut, where the electricity grids are more emissions intensive than gasoline. In addition to the current cradle-to-grave emissions savings, further decarbonization of power grids in provinces reliant on fossil fuels will increase the savings associated with EVs, the TD report said.
