CVMA Statement on the Federal Budget
“Today’s budget recognizes the importance of the automotive industry and the role it plays in creating good jobs for Canadians,” said Brian Kingston, President & CEO of the Canadian Vehicle Manufacturers’ Association (CVMA).
The CVMA welcomes the government’s commitment to the industry and the transition to electric vehicles (EVs), including:
- Funding for coordinated EV charging infrastructure codes and standards;
- Incremental funds for the Strategic Innovation Fund and the Net Zero Accelerator to support the automotive industry and projects to accelerate greenhouse gas emissions reductions;
- Funding for research and development to advance critical battery mineral processing and refining expertise; and,
- A proposed general corporate tax rate reduction for businesses that manufacture zero-emission technologies such as EVs.
Over the past 8 months Ford, General Motors and Stellantis (FCA Canada) have announced $5.7 billion in new investments in Canada, including to build electric vehicles.
“The auto industry is leading the way investing in zero-emission technologies in Canada,” said Mr. Kingston. “The measures announced today create the conditions for an auto-driven economic recovery.”
For further information, please contact:
Canadian Vehicle Manufacturers’ Association
About the Canadian Vehicle Manufacturers’ Association (CVMA)
The Canadian Vehicle Manufacturers’ Association is the industry association that has represented Canada’s leading manufacturers of light and heavy duty motor vehicles for more than 90 years. Its membership includes Ford Motor Company of Canada, Limited, General Motors of Canada Company, and Stellantis (FCA Canada Inc.). Collectively its members operate 4 vehicle assembly plants as well as engine and components plants, and have over 1,300 dealerships. 136,000 jobs are directly tied to vehicle assembly in Canada. Direct and indirect jobs associated with vehicle manufacturing are estimated at over 792,000 across Canada. Please visit www.cvma.ca.