11:11:05 EDT Fri 03 May 2024
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Tesla Inc CDRs (CAD Hedged)
Symbol TSLA
Shares Issued 21,000,000
Close 2024-04-04 C$ 15.76
Market Cap C$ 330,960,000
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Globe says Tesla not the only one struggling with EVs

2024-04-05 07:46 ET - In the News

The Globe and Mail reports in its Friday edition that Ford Motor is delaying by two years the launch of electric vehicles at its plant in Oakville, Ont., as sales of zero-emission cars falter. The Globe's Eric Atkins writes that the plant west of Toronto, which will shut down in May for a $1.8-billion EV retooling, was scheduled to produce electric SUVs by 2025. However, Ford on Thursday said it needs more time to allow the consumer market for larger EVs to develop, and to "enable Ford to take advantage of emerging battery technology." The plant will not be turning out vehicles until 2027. Ford also announced it is pushing deliveries of its second-generation electric pickup truck to be made in Tennessee into 2026 from 2025, while expanding its lineup of gas-electric hybrids. The federal and Ontario governments are giving billions in incentives to makers of electric cars and batteries to transform the sector amid a shift away from the production of gas-powered vehicles. Taxpayers are giving Ford $580-million to transform the Oakville plant to make EVs and battery packs. Tesla, the biggest seller of EVs, has cut its prices but still posted an 8-per-cent drop in sales in the first quarter compared with a year ago.

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