Motor Mouth: Quarter-million jobs may be at stake for Canada’s auto industry

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17h

Honda to set up $11 bln electric vehicle, battery plants in Canada: Honda Motor plans to invest C$15 billion ($11 billion) in new EV and battery production ...

reuters.com/business/autos-transportation/honda-set-up-11-bln-ev-production-base-canada-2024-04-25/

Quick Glance: Honda to Establish $11 Bln EV, Battery Plants in Canada

Honda plans to invest C$15 billion in new EV and battery production plants in Ontario alongside existing facilities to support the growth of North American demand for EVs.

Production is set to start by 2028, with an annual capacity of up to 240,000 EVs and 36 gigawatt-hours for batteries to achieve the goal of having all North American sales from Honda be either EVs or fuel cell vehicles by 2040.

The Canadian government and Ontario province intend to support Honda with around C$5 billion, with Honda contributing 60%-70% of the total investment to reduce costs by more than 20%.

Honda will also collaborate with companies like Asahi Kasei and POSCO to further lower production costs and strengthen the EV supply chain in Canada, leading to an increase in jobs and economic growth.

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Apr 25

Honda’s $11 Billion Electric-Vehicle Expansion Includes Government Aid in Canada: Honda Motor Co. will spend C$15 billion ($11 billion) to build electric ...

bloomberg.com/news/articles/2024-04-25/honda-s-11-billion-electric-vehicle-expansion-includes-government-aid-in-canada

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Less-Watched Jobs Indicator Points to Deep Cracks in Canada’s Labor Market: Canada’s job market is less robust than the country’s most closely watched employment ...

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Honda to set up $11 bln electric vehicle, battery plants in Canada Show more

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Ford just reported a massive loss on every electric vehicle it sold: Ford’s electric vehicle unit reported that losses soared in the first quarter to US $1 ...

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Apr 22

Honda will build electric vehicles and their parts in Ontario with financial support from the Canadian and provincial governments under a plan to be announced ...

reut.rs/3Jtd1yn

Quick Glance: Honda's Major Investment in Electric Vehicle Factory in Ontario

According to sources from federal and provincial government levels, Honda is planning to establish a significant new electric vehicle facility in Ontario.

The forthcoming announcement of the agreement is expected to take place at Honda's facility in Alliston, where plans for a comprehensive project to manufacture electric vehicles, batteries, and components will be revealed.

Honda's investment in Alliston is projected to surpass the existing major projects in the electric vehicle production sector in Ontario.

The disclosure of the agreement with Honda is seen as a significant step in the government's efforts to attract companies for establishment in Canada within the emerging electric vehicle industry.

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Apr 25

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Apr 24

Cuba apologizes to Canada for delivering wrong body to grieving family: Cuba apologized to Canada on Wednesday after authorities accidentally delivered the ...

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Apr 23

Five Eyes countries working to fight critical minerals dumping, Canada minister says

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Apr 24

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Apr 24

Trans Mountain oil shippers raise concerns about risk of delay to full service: Some shippers on Canada's Trans Mountain expansion project are raising concerns ...

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Apr 25

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OCCRP Apr 22

Even after a Canadian court case against an alleged mafia group collapsed, public records revealed much about how a faction of the ’Ndrangheta mafia in Toronto ... Show more

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Apr 24

Asahi Kasai to build EV battery component plant in Canada to supply Honda, Nikkei reports

reuters.com/business/autos-transportation/asahi-kasai-build-ev-battery-component-plant-canada-supply-honda-nikkei-reports-2024-04-24/

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Apr 23

Body of Canadian father missing after he dies in Cuba: His family is demanding answers from Canadian officials after they were sent back the wrong body.

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Apr 23

Dashcam video shows dramatic rescue from burning car: Drivers in Minnesota stopped in the middle of a highway to help pull a man out from a vehicle on fire.

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Apr 24

First Quantum Minerals cuts debt by over $1 bln in first quarter: Canadian miner First Quantum Minerals said on Tuesday that it has cut its debt by $1 ...

reuters.com/markets/commodities/first-quantum-minerals-cuts-debt-by-over-1-bln-first-quarter-2024-04-23/

Quick Glance: First Quantum Minerals Reduces Debt by Over $1 Bln in First Quarter

Canadian mining company First Quantum Minerals announced a $1.14 billion debt reduction in the first quarter.

With a series of capital restructuring measures, the company aims to strengthen its balance sheet and cut debt to achieve operational goals.

The company's total debt as of March 31 is $5.99 billion, down from the previous $7.38 billion.

Despite a $159 million net loss due to the closure of the Cobre Panama mine, the company posted a $75 million profit in the year-ago quarter.

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Apr 22

Missing cat found after 5 years makes 2,000-km journey home: Cindy and Jeff Hall got a phone call out of the blue that their cat, who ran out the door five years ...

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Apr 25

Over 100 pilot whales beached on western Australian coast have been rescued, officials say

ctvnews.ca/climate-and-environment/over-100-pilot-whales-beached-on-western-australian-coast-have-been-rescued-officials-say-1.6861497

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Apr 24

Canada’s Retail Sales Flatlined in the First Quarter: Canadian consumers haven’t tightened their belts this much in nearly a year, and there are no signs of ...

bloomberg.com/news/articles/2024-04-24/canada-s-retail-sales-flatlined-in-the-first-quarter

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Apr 23

Canada's planned capital gains tax hike may choke mining startups, dealmakers say

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Apr 24

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Apr 22

Canada's planned capital gains tax hike may choke mining startups, dealmakers say

reuters.com/markets/commodities/canadas-planned-capital-gains-tax-hike-may-choke-mining-startups-dealmakers-say-2024-04-22/

Quick Glance: Canada's Proposed Capital Gains Tax Hike May Impact Mining Start-ups

Canada's Prime Minister Justin Trudeau and Finance Minister Chrystia Freeland hold the 2024-25 budget, surrounded by members of Parliament on the hill of Ottawa. Canada's planned capital gains tax hike could deter investments in mineral exploration, according to the country's leading stock exchange operators and dealers.

Prime Minister Justin Trudeau's government proposes increasing the share of capital gains subject to taxation to two-thirds for individuals with annual investment profits of over C$250,000 ($181,752), companies, and trusts to raise revenue for public programs. The measure will be effective on June 25 and could undergo amendments.

Mining, oil, and gas exploration companies on the TSX Venture Exchange have raised funds by issuing flow-through shares, which account for 65% of all funds raised by exploration mining companies on Canadian exchanges. Canada's exploration companies have only raised C$240 million in March, down by 79% from a year ago.

Industry lobby groups hope the government will provide an exemption for flow-through share investors, as failure to do so could jeopardize over 70% of all resource explorations in Canada. The proposed measure is feared to potentially signal the end of many mineral explorations in Canada.

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Apr 23

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Apr 22

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bbc.com/news/av/world-us-canada-68878299

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Apr 20

Immigration: 'Some Canadians are beginning to question the multiculturalist model'

lemonde.fr/en/international/article/2024/04/20/immigration-some-canadians-are-beginning-to-question-the-multiculturalist-model_6668991_4.html

Quick Glance: Immigration Debate in Canada: Shifting Perspectives on Multiculturalism

Sociologist Christian Bergeron notes the intense debate on immigration in Canada, challenging a fundamental pillar of Canadian society.

Canadian Prime Minister Justin Trudeau aims to welcome around 985,000 new permanent immigrants by 2025.

Bergeron explains the evolving immigration discourse in Canada, raising doubts about the country's traditional multiculturalism principle.

The changing demographics of immigrants in Canada have led to concerns among some Canadians, reflecting a sense of destabilization.

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Apr 25

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Apr 25

Japan is poised to fill an EV gap left by China: A new Honda facility in Canada shows that Asia’s auto industry is ready to meet North American needs.

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Apr 23

Canada's TC Energy says NGTL pipeline system resumes normal operations after fire

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Apr 23

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Monthly earnings rise, payroll employment falls: jobs report: The number of vacant jobs in Canada increased in February, while monthly payroll employment ...

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Apr 21

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Apr 23

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Canada's auto sector faces an EV renaissance, but local job protection is a concern

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Apr 22

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Apr 25

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Apr 25

TikTok vows to sue over potential U.S. ban. What’s the legal outlook? - National | Globalnews.ca

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Quick Glance: ByteDance Would Consider Closing TikTok in US Over Sale, Sources Claim

ByteDance would prefer to cease TikTok operations rather than engage in a sale if all legal avenues are exhausted to combat potential legislation banning the platform in US app stores, as per four sources.

Despite TikTok's massive popularity with over a billion users, it remains unprofitable, contributing a small fraction to ByteDance's overall revenues and daily active user base.

ByteDance stated on Thursday in a release on Toutiao, a media platform it possesses, that there are no intentions to sell TikTok, in response to claims from The Information about ByteDance exploring sale scenarios for TikTok's US operations excluding the recommending algorithm for user videos.

As of December, ByteDance's valuation stood at $268 billion when it proposed a buyback of approximately $5 billion in shares from investors.

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Apr 23

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Apr 18

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Apr 24

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Apr 24

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Apr 24

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Apr 19

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Apr 22

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Apr 24

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Bitcoin’s latest ‘halving’ has arrived and here’s what you need to know: Bitcoin holding steady at about $63,907 after ‘halving’

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Quick Glance: Bitcoin 'Halving' Completed, CoinGecko Reports

Bitcoin, the world's largest cryptocurrency, completed its 'halving' on Friday, a phenomenon that occurs roughly every four years according to CoinGecko.

Following the 'halving', Bitcoin remained relatively stable, dropping by 0.47% to $63,747.

The 'halving' was integrated into Bitcoin's code at its inception to reduce the rate of new Bitcoins being created.

Experts are divided on whether the upcoming 'halving' will boost Bitcoin's price, with some viewing it as already factored in, while others remain skeptical.

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Last Updated	Nov 27 22
Total Articles	7

Motor Mouth: Quarter-million jobs may be at stake for Canada’s auto industry: