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In its throne speech earlier this month, the Liberal Government made big promises to cut Canada’s greenhouse gases to net zero by 2050, which will require big changes in the cars we drive and the way we live.
This week on Down to Business, Cedric Smith, a Toronto-based analyst at the clean energy think tank, Pembina Institute, explained where he sees the opportunities for this country in the green economy.
Smith explained that the auto sector is poised for a major transformation in the next decade, as the electric vehicle industry takes off, but it will take an estimated US$300 billion in new investments to create a new supply chain and new plants to build these cars.
How does Canada get a piece of the action? So far, Smith explained Canada is a little behind China, Europe and other places where electric vehicles have already taken off. But we have a nascent EV industry here, and government policies and incentives have helped other countries develop an industry, so Canada could still develop its own sector.
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