Mineral wealth is the key to Canadian EV sector’s success

With the global EV market dependant on the availability of battery materials, Canada’s vast mineral resources could give it an advantage. By Will Girling

In 2021 Canada was ranked the 11th largest light vehicle market in the world—approximately 1.64 million units sold—and the automotive industry contributed CA$16bn (US$12.2bn) to the nation’s GDP. According to market researcher IBISWorld, it is expected to grow 11% in 2022.

While Canada is currently the second-largest car producer in North America, its main competitor—the US—holds a commanding lead on the region: it secured sales of almost 15 million in 2021, making it second only to China in global terms. However, the move towards electrification is providing Canada with a significant opportunity to increase its standing.

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