South Korea isn’t the one nation seeking to develop automotive manufacturing to Canada. Germany can be seeking to develop into Canada, with the nation’s financial minister calling Canada’s new auto sector technique “very engaging.”
The small print come from a Globe and Mail interview with Germany’s Minister of Financial Affairs and Vitality, Katherina Reiche, after she visited Ottawa on Feb. 9 to talk to members of Prime Minister Mark Carney’s cupboard. That included Business Minister Mélanie Joly, Vitality and Pure Assets Minister Tim Hodgson, and Dominic LeBlanc, the minister overseeing a number of sides of Canada’s commerce technique.
Talking to the Globe, Reiche stated that Germany’s “automotive trade is keen to take a position right here” and is “in talks to increase our footprint” into Canada.
Nevertheless, Reiche additionally cautioned that the choice will finally be as much as the automotive corporations.
Reiche’s assembly with the ministers additionally didn’t give attention to the auto sector — as a substitute, they mentioned a separate submarine deal and different main Canadian infrastructure tasks. Reiche informed the Globe that the auto trade’s curiosity is impartial of the submarine deal.
The submarine deal in query is a joint bid between Germany and Norway to produce Canada with as much as 12 submarines. The Globe reviews that Canada requested South Korea and Germany, which each have corporations bidding on the submarine contract, to incorporate auto trade manufacturing pledges of their respective pitches.
South Korea has already signed a non-binding memorandum of understanding (MOU) to deliver auto manufacturing and funding to Canada.
Canada has already seen some funding from German automakers, which predates the submarine bid. Volkswagen subsidiary PowerCo dedicated to constructing an EV battery manufacturing facility in St. Thomas, Ont. — building began on the plant final 12 months. Reiche pointed to this for instance of how Canada is a “dependable companion.”
Header picture credit score: Shutterstock
Supply: The Globe and Mail
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