Hello! Thanks for bringing your eyeballs over to the EV Canada Newsletter. First off, some sad news: there will not be a newsletter sent out next week as I will be on vacation. Secondly, some good news: there is one this week so just keep on reading and enjoy it. If you miss us and wish you had an issue next week, feel free to read this one again.

PS: If you were able to attend the Canadian International Autoshow in Toronto, let me know what you thought of it and your thoughts on the EVs there! You could also post your thoughts on our subreddit at https://reddit.com/r/evcanada

Canada

2023 Canadian International Auto Show EV Highlights - Toronto, Canada 

Magna Invests $470 Million to Expand Operations in Ontario, Canada

Magna, a global automotive supplier, is investing over $470 million to expand its operations in Ontario, Canada, which includes establishing a new battery enclosures facility in Brampton to support Ford F-150 Lightning and future OEM programs. Magna is also expanding its existing locations in Guelph, Belleville, Newmarket, Windsor, and Penetanguishene, following new business awards from various automakers in key product areas. These expansions are supported by $23.6 million in grants from the Ontario government to bring additional high-quality jobs to the region, with ongoing training and development programs for employees. The new and expanded facilities are expected to bring over 1,000 new jobs to Ontario in the next few years.

Magna’s Chief Sales and Marketing Officer, Eric Wilds, said that Magna's roots in Ontario run deep, and they are excited to bring new business, more investment, and additional jobs to Ontario. Magna's Brampton facility will be leased, and it will manufacture battery enclosures for electric vehicles. The facility is expected to begin operations in Q2 2023, with roughly 560 new jobs expected at full production. Magna is also adding e-coat, molding, and welding capacity to its exteriors plant in Guelph to support new electric vehicle production, with an expansion of 120,000 square-feet. Operations are planned to begin in Q2 2023, and around 175 new jobs are expected.

In Belleville, Magna's lighting plant is expanding its capabilities for printed circuit board assemblies, and operations are scheduled to begin in Q4 2023. Up to 100 new jobs are expected. Magna's mechatronics facility in Newmarket, which produces vehicle access systems including side door latches, electronic control units, and power systems, is growing its business, and around 75 new jobs are expected. In Windsor, Magna's mechatronics plant has recently started new business for powered aluminum tonneau covers and is planning to add roughly 110 new jobs. Additionally, Magna's mechatronics facility in Penetanguishene is expanding its tailgate hinges production, and over 15 new jobs are planned.

Ontario's Premier, Doug Ford, said that this investment represents another tremendous show of confidence in the growing strength and resilience of the province's auto sector. He believes that together with their industry partners, they are putting Ontario back on the map as they build up Ontario's electric vehicle supply chain from mining to manufacturing, and the cars of the future and the batteries that power them will be built in Ontario by Ontario workers.

Vic Fedeli, Minister of Economic Development, Job Creation and Trade, added that Magna's investment will create hundreds of new jobs across the province and further strengthen Ontario's end-to-end automotive supply chain. Invest Ontario CEO, Trevor Dauphinee, also stated that Magna's decision to expand in six locations across the province showcases Ontario's advantages in automotive talent and will strengthen EV supply chains in Ontario by diversifying automotive parts manufacturing across the province.

AutoTrader’s Top 5 Cheapest EVs in Canada: 2023

EV Around the World 🌏

Wiesmann's Project Thunderball EV sells out first year of production.

German luxury sports car maker Wiesmann has announced that its upcoming Project Thunderball electric roadster is already sold out for the first year of production. Priced at €300,000 ($320,000), the Project Thunderball is the company's first-ever all-electric luxury roadster, and it has garnered exceptional demand from customers worldwide.

Wiesmann has revealed that it will start producing the electric roadster at its "Gecko" production facility in Dülmen, Germany, in 2024, with the first customer deliveries scheduled for the same year. The company did not disclose the number of vehicles it expects to produce during the first year of production, but given the hand-built nature and the high price tag, it is expected to be a limited run.

The Project Thunderball boasts a classic two-seat, rear-wheel drive layout, traditional British-inspired Wiesmann design, and lightweight carbon fiber construction. It features two electric motors in a rear-mid mounted position with a targeted total output of 500 kilowatts (671 horsepower) and 811 pound-feet (1,100 Newton-meters) of torque, enabling the roadster to go from zero to 62 mph (100 km/h) in just 2.9 seconds.

The electric motors are powered by an 800-volt, 92-kWh lithium-ion battery pack, providing a targeted range of 500 kilometers (310 miles) on the WLTP test cycle, and super-fast charging of up to 300 kW.

Roheen Berry, Owner and CEO of Wiesmann, expressed his pride in the exceptional demand for the Project Thunderball, which heralds the return of the Wiesmann brand. He added that the exclusive ownership experience of the car, which will be co-created with the customer, ensures that the final specification meets the most exacting of standards.

Interested customers who wish to place a reservation for the Project Thunderball's second year of production (2025) must pay a fully refundable deposit of €3,000 ($3,200).

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CATL offers lower EV battery costs to Chinese automakers, excluding Tesla.

China's CATL, the world's largest electric vehicle (EV) battery maker, is offering significantly lower battery costs to some Chinese EV makers. CATL, which accounted for 37.1% of global EV battery sales in 2022, is reportedly offering a deal on EV batteries for carmakers including NIO, Li Auto, Huawei, and Zeekr - what CATL considers its "strategic clients." Under the deal, CATL will settle a portion of the price of power supply with automakers based on a price of RMB 200,000 (about $29,116 USD) per ton of lithium carbonate for the next three years.

Automakers signing the partnership will be required to commit about 80% of their battery purchases to CATL. Currently, battery-grade lithium carbonate is quoted at about RMB 470,000 ($68,427 USD) per ton, and car companies that can purchase batteries at a cost of RMB 200,000 a ton will undoubtedly be able to significantly reduce cost pressures. The program will be implemented in the third quarter of 2023, and CATL has asked its material suppliers for a 10% price cut, as it ties its battery prices to raw material prices.

Tesla, CATL's largest customer, is not among CATL's "strategic client" group, and Tesla has a gigafactory in Shanghai. NIO, which signed a five-year strategic cooperation agreement with CATL on January 17, is included. The program will help CATL secure long-term orders while allowing automakers to achieve cost savings.

Lithium carbonate prices have been falling since the end of 2022, and Ouyang Minggao, a member of the Chinese Academy of Sciences, said at a conference that they may fall by as much as 20% in China in 2023. Lithium resources are expected to return to supply-demand balance in one to two years. Morgan Stanley expected lithium carbonate prices in China to be at $67,500 USD per ton in the first half of 2023, falling to $47,500 USD per ton in the second half of 2023, the latter implying a 35% decline from spot prices at that time. The deal will likely help Chinese automakers to further reduce their battery costs, enabling them to produce and sell more affordable EVs.

QuickEV

• Tesla recalls 362,758 EVs equipped with Full Self-Driving beta for ‘crash risk’.

• [VIDEO] Delivering for amazon in the new Rivian vans.

• VW is set to launch an electric Tiguan SUV.

• [VIDEO] Toyota shows GRIP EV prototype that can turn on a dime & “crab walk”.

• Tesla fires dozens of employees at Giga New York after unionization effort.

• [VIDEO] Top 10 longest range EVs coming in 2023-2025.

• Mazda MX-30 electric SUV review: a perfect storm of range anxiety.

• Cadillac to debut 3 new EVs later this year.

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