The National Post reports in its Wednesday, Sept. 10, edition that consumer subsidies for electric vehicles in Canada and the U.S. are ending. The Post's John Ivison writes that automakers believe there is demand, but acknowledge the need for lower prices.
Chief executive officer Jim Farley said Ford plans to release a mid-sized EV pickup truck in 2027 that would retail for about $30,000 (U.S.).
Other North American automakers are following suit. Tesla is looking at a cheaper Model Y. General Motors is bringing back the Chevy Bolt, another $30,000 (U.S.) model. Mr. Farley acknowledges the Chinese vehicles have "far superior in-vehicle technology" from facial recognition to artificial intelligence companions and other connectivity frills that likely mean the Chinese government is coming along for the ride. Overcapacity in China results in lower prices compared with global competitors, even as President Donald Trump's tariffs are increasing prices, with Cox Automotive forecasting a 4- to 8-per-cent rise in vehicle prices by 2025. Canadian automakers achieved their goal with the suspension of the EV mandate and a $5-billion fund to help businesses adapt. Automakers say opening the market to China could be a significant setback.
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