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So Canada attracts GM’s Gigafactories (which teams up with Honda to beat Tesla)

2 years ago babelfish

So Canada attracts GM's Gigafactories (which teams up with Honda to beat Tesla)

The new race to electricity is exposing an indisputable fact: never as in this period have states been giving public money to help private entrepreneurship. The USA will do it, especially if Joe Biden 's plan were to pass the scrutiny of Congress, China and above all India are already doing it, something is also moving in Europe , even Italy has started to do it (on March 23 last signing of the Memorandum of Understanding between the Ministry of Economic Development, the Molise Region, Invitalia and Automotive Cells Company SE for the conversion of Termoli) and now Canada is preparing the way.

WHAT GM DOES IN CANADA

US General Motors Co will receive a check valued at C $ 518 million from the government of Justin Trudeau for its billion-dollar investments in its two factories in Ontario, including one that will produce electric vehicles.

To be precise, both the federal government and the provincial government of Ontario will invest C $ 259 million each while GM puts more than C $ 2 billion on the plate at the Oshawa plant and the CAMI assembly plant in Ingersoll.

Following the government investment, GM's CAMI plant will be converted into a real gigafactory, i.e. the first large-scale electric vehicle production plant (including the battery production department) where BrightDrop vans will also be built. , according to what GM said when announcing the industrial recovery plan in Canada.

GM, one of the US companies most affected by the truckers' protest against Canadian restrictions over the Covid epidemic that ended up blocking the borders between the two states, also announced that, in exchange for state investments, a third shift at the Oshawa assembly plant, creating 2,600 new jobs

HONDA'S NIPPON INVESTMENTS IN CANADA

US GM is not alone in looking to Canada to strengthen its business plan. Last month, Honda Motor Co said it will invest C $ 1.38 billion over six years to upgrade its Ontario factories as the automaker prepares to build its new hybrid SUV for the North American market.

THE HONDA – GM PLAN TO BEAT TESLA

And just General Motors and Honda Motor Co have announced that they intend to unleash a particularly aggressive approach in the field of EV cars, developing a series of low-cost electric vehicles based on a new joint platform. The first jointly developed model will arrive in 2024: it will be the Honda Prologue. The intent to beat Tesla in a sector in which it is particularly strong is clear, however, positioning itself at the antipodes as regards list prices. The compact crossover is the best-selling market segment in the world with annual volumes of over 13 million vehicles.

The two automakers said their electric vehicles will leverage GM's Ultium battery technology, noting that they will be "affordable". GM CEO Mary Barra , for example, said the price will be below the $ 30,000 expected price for the Chevrolet Equinox electric SUV. The goal of the joint-venture between Honda and GM is to sell “millions of units”, so this unprecedented US-Japan axis could be aimed at the production of cars on a global scale.

This is a machine translation from Italian language of a post published on Start Magazine at the URL https://www.startmag.it/smartcity/cosi-il-canada-attira-le-gigafactory-di-gm-che-si-allea-con-honda-per-battere-tesla/ on Mon, 18 Apr 2022 06:24:12 +0000.