There have been several announcements recently that are reiterating the future importance of electric vehicles (EV's) in North America's vehicle landscape: investment in Dana for battery cooling technology, Magna/Ontario's R&D center, and Toyota's electric Rav4 assembly.  These make for a great splash to demonstrate the importance of the underlying technology.  A side benefit of EV growth is the trickle-down effect of some critical EV technologies (light weight panels, advanced composite structures, low rolling resistance tires, etc) into hybrids and traditional vehicles.

A key area of contention though is how to finance this innovation & how can the SME's in the supply chain get involved?  While a collaborative effort like Magna & Ontario is a great platform, and Auto21 bridges the gap between industry & education, what else can be done?  It is important that parts companies, small and large, work with their suppliers and customers to act on opportunities as they arise.  In some cases, this may lead to supply chain related financing needs - EDC is keen to help support Canadian automotive suppliers take advantage of market trends and will happily work with companies, their banks, and their supply chain partners to help structure a reasonable financing package.

By working together, we can ensure that Canadian industry can take advantage of opportunities, and keep the automotive sector strong into the future.

Disclaimer:

The views expressed here are those of the author, and not necessarily of Export Development Canada

 Les vues exprimées dans ce propos sont celles de l'auteur. Elles ne reflètent pas nécessairement le point de vue d'EDC.