The Financial Post reports in its Saturday, Oct. 19, edition that in recent years, automakers and battery companies have pledged about $46.1-billion toward Canada's electric vehicle supply chain, receiving $52.5-billion in government support to offset transformation costs. The Post's Gabriel Friedman writes that this investment aims to establish new plants rapidly, generating thousands of direct and indirect jobs. However, slower-than-expected EV sales and rising costs have led to challenges, leaving many auto-parts workers unemployed. Auto-parts suppliers represent over half of all jobs in the sector, according to estimates. The sector is being shaken up as automakers close plants for a lengthy retooling process or look to reduce their costs by bringing work in-house that they had previously farmed out to external contractors.
Amid high inflation and rising unemployment, the immediate pressures wrought by the EV transition are causing many auto-parts workers to question the wisdom of the government's strategy. Auto-parts worker Jody Schneider says: "We've been hearing about electric for years, but all of a sudden, 'Oh, it's here now,and we're not even ready.' Now, it's like everybody s got to come to a complete halt."
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