Canada is given billions to companies to build electric vehicles. Great business to be in???

[Sundancefisher]

Does this make sense?

https://www.ctvnews.ca/autos/ford-ju...sold-1.6861922

This is sad… hilarious… maddening…. If there was a movie made… that to win… a country had to spend billions of dollars fast and get nothing in return… Canada wins! Woohoo..

Ford’s electric vehicle unit reported that losses soared in the first quarter to US $1.3 billion, or US$132,000 for each of the 10,000 vehicles it sold in the first three months of the year, helping to drag down earnings for the company overall.

[Trochu]

As most people with common sense and an IQ over 60 know, so our politicians don't, virtue signalling can be expensive.

[Sundancefisher]

Originally Posted by Trochu

As most people with common sense and an IQ over 60 know, so our politicians don't, virtue signalling can be expensive.

Yup. Every EV sold they lost $132,000 US.

LMAO

[fishnguy]

Originally Posted by Sundancefisher

Yup. Every EV sold they lost $132,000 US.

LMAO

Every 10,000 EVs lost $132,000, as per the article you cited. Edit: You are right, I read it wrong.


I don’t know… This Honda deal announced today (yesterday?) doesn’t look like such a bad deal. $15B investment and only $5B coming from the Feds and Ontario (read the Feds too, lol) sounds like a win, compared to the usual nearly 100% plus tax breaks for eternity type of deal they make with automakers.

https://www.reuters.com/business/aut...da-2024-04-25/

Don’t think I would mind if something of the sort happened in Alberta. The devil is in the details, of course, and time will tell. Honda seems to be pretty cautious about this whole EV “boom”, even more so than Toyota. So I don’t think we are necessarily losing here.

[tallieho]

Originally Posted by Sundancefisher

Yup. Every EV sold they lost $132,000 US.

LMAO

Iam sure it's just a spelling error "It's giving money"

[elkhunter11]

Billions invested in an industry that is losing money, that is typical for liberal virtue signaling.

[Moe]

Nahhh, I think it's good that we get into this. EV's are the future, juts like internal combustion replaced horses etc. This will build a solid industry with good jobs.

EV batteries are getting better and better every year. They just now have batteries coming out that are impervious to the cold and range losses because of that. Solid state batteries are on the way and on and on.

And Alberta's hydrogen will take care of big industry and large transport (semi's, trains, planes).

The growth potential for Canada and Alberta is HUGE!

[Bushrat]

Hertz is getting rid of 20,000 of its EV rentals.

[Bigwoodsman]

I thought I heard this was going to create a 1000 jobs in ontario. The 15 billion invested is 15 million dollars per job created if my math is right. Sounds about right for the Jagmeet led lieberal mafia.

BW

[BC7stw]

So the government has decided I need to subsidize electric vehicles, hmm, sounds like something from a dire straits song .. money for nothing..

[Geraldsh]

There is a silver lining in this cloud of political BS; the automaker wants to employ a vertical supply chain right down to the mining of the metals needed in the batteries. It’s a shot in the arm for Canadian mining industry.

[Au revoir, Gopher]

I have an idea. How about if Ford gives me $50,000 and they keep the EV. We can call it even.

ARG

[Maxwell78]

You elect a clown, you get the circus.

[Stinky Buffalo]

Originally Posted by BC7stw

So the government has decided I need to subsidize electric vehicles, hmm, sounds like something from a dire straits song .. money for nothing..

Makes you wonder if they had only taken that money and simply bought us all solar panels for our houses, fully paid.

Was going to do the solar loan/grant thing for our house, but it was still financially out of reach for us, especially seeing that we aren't planning on living in that house for more than three or four years still.

Instead, we're building plants for technology that will be potentially obsolete by the time the plant opens its doors, and we're hiring foreign workers to work there... I'm guessing there's more of some insiders' pockets being lined somewhere here...

Originally Posted by Geraldsh

There is a silver lining in this cloud of political BS; the automaker wants to employ a vertical supply chain right down to the mining of the metals needed in the batteries. It’s a shot in the arm for Canadian mining industry.

Right, but with all of the traditional Canadian red tape re: the environment, plus unions etc., how competitive would it be? And I'm sure there's regional favoritism... Compare Alberta metal refineries struggling, while out east they're getting government (our) money to expand. Again, seems like more lining of certain pockets.

Originally Posted by Au revoir, Gopher

I have an idea. How about if Ford gives me $50,000 and they keep the EV. We can call it even.

ARG

YES!

[elkhunter11]

Originally Posted by Moe

Nahhh, I think it's good that we get into this. EV's are the future, juts like internal combustion replaced horses etc. This will build a solid industry with good jobs.

EV batteries are getting better and better every year. They just now have batteries coming out that are impervious to the cold and range losses because of that. Solid state batteries are on the way and on and on.
And Alberta's hydrogen will take care of big industry and large transport (semi's, trains, planes).

The growth potential for Canada and Alberta is HUGE!

So EVs are the future, you might want to talk with the CEO of Toyota. When the largest automated in the world backs away from building EVs, there is a reason.

https://www.youtube.com/watch?v=AdtyF1f6vPg

[barsik]

this is business as usual at the higher end of the food chain. billions in government funds distributed to "investors" in select companies which can be used as election propaganda. those funds are added to the national debt because the amount of current tax revenue won't cover it. just to add insult to injury, the bank of canada will be charging interest on the principal which was borrowed for this green environmentally friendly carbon neutral project. this is what happens when over half of the population is either illiterate or brainwashed and keep electing scam artists into power. the only thing that can fix it is a CME or an asteroid. the number of people who are aware of this politically acceptable fraud cannot vote them out of office because they are a minority.

[DiabeticKripple]

the govt of canada just spent 5 million of your dollars per job.

[dmcbride]

How much corporate welfare have the liberals dished out so far, I lost track?

[zabbo]

Originally Posted by Moe

Nahhh, I think it's good that we get into this. EV's are the future, juts like internal combustion replaced horses etc. This will build a solid industry with good jobs.

EV batteries are getting better and better every year. They just now have batteries coming out that are impervious to the cold and range losses because of that. Solid state batteries are on the way and on and on.

And Alberta's hydrogen will take care of big industry and large transport (semi's, trains, planes).
The growth potential for Canada and Alberta is HUGE!

Check out how Edmonton's fleet of electric busses are working out!!

Originally Posted by Geraldsh

There is a silver lining in this cloud of political BS; the automaker wants to employ a vertical supply chain right down to the mining of the metals needed in the batteries. It’s a shot in the arm for Canadian mining industry.

Can take years to develop a productive mine! That is, assuming they can get past the environmental and Indigenous issues! Pretty much all of canukistan is now an environmentally sensitive area! Good luck!! You're gonna need a MUCH bigger legal team!!

[Bigwoodsman]

Anyone want to get together and say were going to build EV's. I hear the government is handing out billions for these projects.

Can't really blame Honda or VW for taking these handouts. Just need to figure out how to get in line.

BW

[-JR-]

Originally Posted by Bushrat

Hertz is getting rid of 20,000 of its EV rentals.

I can see the average guy renting one , and as soon as he just makes it home he remembers he has no 208 volt charging plug in his garage .

[X-Treme]

Originally Posted by Moe

Nahhh, I think it's good that we get into this. EV's are the future, juts like internal combustion replaced horses etc. This will build a solid industry with good jobs.

EV batteries are getting better and better every year. They just now have batteries coming out that are impervious to the cold and range losses because of that. Solid state batteries are on the way and on and on.

And Alberta's hydrogen will take care of big industry and large transport (semi's, trains, planes).

The growth potential for Canada and Alberta is HUGE!

I disagree. I honestly think that HYBRID is the way to go. A very small, efficient I.C.E. generator that runs at idle essentially to keep the battery charged for the electrically driven powertrain.

[Moe]

Originally Posted by elkhunter11

So EVs are the future, you might want to talk with the CEO of Toyota. When the largest automated in the world backs away from building EVs, there is a reason.

https://www.youtube.com/watch?v=AdtyF1f6vPg

They are looking at hydrogen, which is a fuel cell for electric motors. And they are building EV's. Gotta be careful, maybe they are BetaMax and the others are VHS

[Moe]

Originally Posted by X-Treme

I disagree. I honestly think that HYBRID is the way to go. A very small, efficient I.C.E. generator that runs at idle essentially to keep the battery charged for the electrically driven powertrain.

Time will be prove me correct. Everything else is just guessing. I KNOW EV's will be the answer. CATL just built a 1,000 km range battery. In the end, if they money is there, it spurs innovation. This is how capitalism works. If the money is there, it will happen. Europe and the rest of the World is moving that way because they have to. Pollution from internal combustion engines is killing them. And China and India are growing their solar and wind exponentially, because the smog is literally killing them.
And if people say mining produces a lot of emissions, they are correct. Until hydrogen kicks in and fuels the mining equipment.

[Trochu]

Originally Posted by Moe

Time will be prove me correct.

Maybe, maybe not. That's pretty open ended though....

134 years later and I don't think I'd call them mainstream yet...

[Ackleyman]

EV's ? I predict one of the biggest gong shows man has ever attempted to pull off. Besides all of the logistics of cost , charging , re cycling and tearing / mining the sheet out of the world to build batteries its insane. People are buying into it ....like lemmings falling off a cliff. The major auto maklers who are the experts are getting their arses handed to them but in true corporate sleaze tactics to appease shareholders,"just wait we will be profitable". BS. Where are all the daisy sniffers that were pounding on drums and freaking out about pipelines ?? Just continuing to put a dagger in the Oil & Gas industries heart.

[elkhunter11]

Originally Posted by Moe

They are looking at hydrogen, which is a fuel cell for electric motors. And they are building EV's. Gotta be careful, maybe they are BetaMax and the others are VHS

Toyota is pushing hybrids hard, not full electric. And their sales prove that it is working. The demand for EVs is dependent on the ability to charge them, and we are decades from being able to handle the charging of EVs if everyone switches to them.

[32-40win]

Seems like typical CTV, most of the info I've seen on the EV industry is saying the dealers won't put EV's on the lot now. They say the industry has sold what they can to the greenie crowd, achieved market saturation, and the market out there now, won't buy them due to range issues, price, and general lack of trust in the EV's. Big 3 cut back production pretty heavily in the last 6 mos, Toyota will build hybrids for now and is investing heavy into hydrogen. Most all of the articles I have read said Ford was losing 36k/unit on the average, GM wasn't doing any better and will be building hybrids more heavily, some say too big to fail may not save them this time. US has apparently banned Chinese EV's from being imported. Ford, GM and Stellantis have no money apparently. Toyota and Ford are both talking about doing away with what we know as dealership sales depts, and selling direct to consumer same as Tesla, order your car online.There are apparently a few different supplier plant builds on hold at present. Tesla is supposed to be going to build a 25k EV, but hasn't actually built the prototypes yet.
Seems like a smoke and mirrors artricel at best.

[muirsy]

Originally Posted by elkhunter11

Toyota is pushing hybrids hard, not full electric. And their sales prove that it is working. The demand for EVs is dependent on the ability to charge them, and we are decades from being able to handle the charging of EVs if everyone switches to them.

Absolutely agree. I never understood the insanity of the push to good 100% electric yesterday - when hybrids literally bridge that gap already, and have been around forever. "Transition" has been the buzz word for almost a decade now, and by definition hybrids do just that.

My wife has a 2024 Rav4 hybrid and it's an amazing vehicle. Until the battery technology improves, as well as the infrastructure for charging, telling everyone to get EV's is just silly.

[Stinky Buffalo]