Canada is given billions to companies to build electric vehicles. Great business to be in???

[Sundancefisher]

Does this make sense?

https://www.ctvnews.ca/autos/ford-ju...sold-1.6861922

This is sad… hilarious… maddening…. If there was a movie made… that to win… a country had to spend billions of dollars fast and get nothing in return… Canada wins! Woohoo..

Ford’s electric vehicle unit reported that losses soared in the first quarter to US $1.3 billion, or US$132,000 for each of the 10,000 vehicles it sold in the first three months of the year, helping to drag down earnings for the company overall.

[Trochu]

As most people with common sense and an IQ over 60 know, so our politicians don't, virtue signalling can be expensive.

[Sundancefisher]

Originally Posted by Trochu

As most people with common sense and an IQ over 60 know, so our politicians don't, virtue signalling can be expensive.

Yup. Every EV sold they lost $132,000 US.

LMAO

[fishnguy]

Originally Posted by Sundancefisher

Yup. Every EV sold they lost $132,000 US.

LMAO

Every 10,000 EVs lost $132,000, as per the article you cited. Edit: You are right, I read it wrong.


I don’t know… This Honda deal announced today (yesterday?) doesn’t look like such a bad deal. $15B investment and only $5B coming from the Feds and Ontario (read the Feds too, lol) sounds like a win, compared to the usual nearly 100% plus tax breaks for eternity type of deal they make with automakers.

https://www.reuters.com/business/aut...da-2024-04-25/

Don’t think I would mind if something of the sort happened in Alberta. The devil is in the details, of course, and time will tell. Honda seems to be pretty cautious about this whole EV “boom”, even more so than Toyota. So I don’t think we are necessarily losing here.

[tallieho]

Originally Posted by Sundancefisher

Yup. Every EV sold they lost $132,000 US.

LMAO

Iam sure it's just a spelling error "It's giving money"

[elkhunter11]

Billions invested in an industry that is losing money, that is typical for liberal virtue signaling.

[Moe]

Nahhh, I think it's good that we get into this. EV's are the future, juts like internal combustion replaced horses etc. This will build a solid industry with good jobs.

EV batteries are getting better and better every year. They just now have batteries coming out that are impervious to the cold and range losses because of that. Solid state batteries are on the way and on and on.

And Alberta's hydrogen will take care of big industry and large transport (semi's, trains, planes).

The growth potential for Canada and Alberta is HUGE!

[Bushrat]

Hertz is getting rid of 20,000 of its EV rentals.

[Au revoir, Gopher]

I have an idea. How about if Ford gives me $50,000 and they keep the EV. We can call it even.

ARG

[Maxwell78]

You elect a clown, you get the circus.

[Stinky Buffalo]

[Au revoir, Gopher]

"On Thursday, the federal and Ontario governments announced that they will be doling out an estimated $5 billion in corporate welfare to Honda, so the auto giant can build an electric vehicle (EV) battery plant and manufacture EVs in Ontario."

https://nationalpost.com/opinion/tax...nda-plant-deal

Honda $ 5 Billion
Volkswagen $13 Billion
Stellantis $15 Billion
Northvolt $ 5 Billion

As Peter Foster put it "Take that, Bidenomics! Anything you can subsidize, we can subsidize dumber."

ARG

[Cross Eyed Cowboy]

Honda's future direction for the vast majority of it power equipment division is to go EV. They started that process with the halting of all gasoline lawnmower production last fall (North American Market).

Given the fact that gasoline lawnmower production has now ended, I'm sure that will spread to others in their power equipment line, such as tillers, snowblowers, pumps or whatever else they carry for the home garden class.

Electric generators, more power bank offerings, less gasoline options.

ATV's and motorcycles, more electric offerings, less gasoline options.

Marine division, portable class of motors all electric.

[Sundog57]

I can't help but think that we're going into the VHS/Betamax fight and our government is betting on Betamax
Unfortunately with electric vehicles we don't have the porn industry to guide us on the probable successful outcome (except for the fact that someone is likely to get, uh, well you know)

[W921]

Originally Posted by Sundog57

I can't help but think that we're going into the VHS/Betamax fight and our government is betting on Betamax
Unfortunately with electric vehicles we don't have the porn industry to guide us on the probable successful outcome (except for the fact that someone is likely to get, uh, well you know)

Haha that's a good description except that Ottawa destroyed our oil and gas industry to try to create this new industry in Québec/Ontario with our own money

[Sundog57]

Originally Posted by W921

Haha that's a good description except that Ottawa destroyed our oil and gas industry to try to create this new industry in Québec/Ontario with our own money

so you are saying someone is already "getting, well you know"

Everyone except the Clown Prince, Freemoney, Jagmeet and Guilbault is well aware

[Au revoir, Gopher]

Originally Posted by Cross Eyed Cowboy

Honda's future direction for the vast majority of it power equipment division is to go EV. They started that process with the halting of all gasoline lawnmower production last fall (North American Market).

Given the fact that gasoline lawnmower production has now ended, I'm sure that will spread to others in their power equipment line, such as tillers, snowblowers, pumps or whatever else they carry for the home garden class.

Electric generators, more power bank offerings, less gasoline options.

ATV's and motorcycles, more electric offerings, less gasoline options.

Marine division, portable class of motors all electric.

If a company thinks battery powered is the way of the future for both the market and technology, good for them; the free market should prove them right or wrong. I just don't want my tax dollars providing corporate welfare because of some warped ideology.

ARG

[W921]

Originally Posted by Au revoir, Gopher

"On Thursday, the federal and Ontario governments announced that they will be doling out an estimated $5 billion in corporate welfare to Honda, so the auto giant can build an electric vehicle (EV) battery plant and manufacture EVs in Ontario."

https://nationalpost.com/opinion/tax...nda-plant-deal

Honda $ 5 Billion
Volkswagen $13 Billion
Stellantis $15 Billion
Northvolt $ 5 Billion

As Peter Foster put it "Take that, Bidenomics! Anything you can subsidize, we can subsidize dumber."

ARG

Honda was going to build a battery plant in high river but was announced they canceled. Probably going to Ontario/Quebec where the funding is?