21:09:52 EST Sun 08 Feb 2026
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Ford CDR (CAD Hedged)
Symbol F
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Close 2025-10-21 C$ 10.84
Market Cap C$ 3,794,000
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Globe says Volkswagen, rivals see GM close Ont. factory

2025-10-22 07:07 ET - In the News

See In the News (C-VWA) Volkswagen CDR (CAD Hedged)

The Globe and Mail reports in its Wednesday edition that General Motors has ended production of the Chevrolet BrightDrop electric parcel van in Ingersoll, Ont. The Globe's Eric Atkins writes that the decision, announced Tuesday by chief executive officer Mary Barra, has cost more than 1,100 hourly workers their jobs in the Southwestern Ontario town. The plant, formerly a joint venture with Suzuki, was retooled with taxpayer money to become Canada's first large-scale all-electric vehicle factory in 2022. Since then, U.S. tariffs on imported cars, metals and other goods have hammered Ontario's manufacturing industry, and slowing growth in the EV sector has cast doubts on Canada's plan to become a hub for EV manufacturing. The Ingersoll plant had been scheduled to close between May and October. GM announced $1.3-billion (U.S.) in quarterly earnings on Tuesday. The governments of Canada and Ontario gave GM $518-million in 2022 to retool the Ingersoll plant and restart the GM factory in Oshawa, which closed in 2019. In addition to the BrightDrop spending, Ottawa and the province have provided subsidies worth a total of $28-billion to EV battery projects owned by Stellantis NV and LG Energy Solution and by Volkswagen.

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