[vc_row][vc_column][vc_column_text]The global electric vehicle revolution (EV) is here. In the past year alone, the EV market has evolved rapidly, with consumer and investor interest at all-time highs. In Canada, electric vehicle sales grew by almost 60 percent over the year prior. Canada is vying for a leadership position in the global race in the electric vehicle revolution — and is primed to do so — having made policy commitments as well as a recent string of investments in mining and metals, production plants, and infrastructure to accelerate EV adoption. While this is good news for the average consumer, Canada’s commitment to supporting this transition also bodes well for Canadian investors, who are in a unique position to take advantage of the many EV companies listing and growing in Canada.
What Makes Canada Uniquely Primed for the EV Revolution?
While EV adoption is much higher in other parts of the world, Canada is quickly moving beyond the early adopter stage, setting the stage for mass adoption.
Having the capacity to build EVs from start to finish alongside the resources to produce the batteries that power them, the Canadian electric vehicle revolution hinges on an ecosystem of collaborators. This involves a combination of government-implemented policies and initiatives to support uptake, access to vast mining and metal resources, and continued investments into infrastructure, production plants and retooling of existing equipment for EV manufacturing.
Why Should Canadian Investors Take Note?
Investments in the EV space have been revving up as EVs continue to gain popularity over its combustible engine-powered rivals. As a rapidly growing market supported by a number of government policies, there is a lessened risk for investors now entering the realm of EVs. Additionally, the policy and legislation changes along with consumer and business-driven behavioural changes all point in the same direction – an electric future. With many emerging EV companies existing only on the Canadian TSX or NEO exchanges, Canadian investors have unique access to take advantage of the EV revolution.
Companies like Magna International — the largest automotive parts manufacturer across North America, and of the largest companies that exist in Canada — have shifted their strategy to accommodate the growing needs of the EV space. What started as a traditional manufacturer, Magna now builds electric powertrains and BEV batteries for electric vehicles. This shift towards the growing market of EVs has resulted in Magna’s significant expansion in North America and around the globe. The same can be said for some notable car brands. We are seeing how Canadian arms of companies like Stellantis and General Motors are retooling and redistributing resources for the production of EV models.
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For Canadian investors, as EV companies grow, list, and pivot for the EV transformation, this is a clear window of opportunity. An even more alluring, and relatively untapped option for investors, lies within existing brand equity. As developments and interest in the EV space grew rapidly over the last few years, there was a clear gap for people like me, who couldn’t see themselves in any of the EVs available to consumers. Missing from the market were vehicles that could compete with beloved motored classics in terms of character, style, and personality.
This is what led me to found EV Technology Group. While other automakers raced to design and build vehicles from the ground up, I was confident that leveraging the brand equity of dormant — but undoubtedly iconic — brands and delivering their electric versions could entice even the most avid petrolhead. This “sleeping beauty” strategy has played out in fashion, and is now taking shape in the EV world, including through EV Technology Group.
By combining Canada’s strong existing auto industry with the vision of changing how people interpret and invest in the electric vehicles of tomorrow, the window to create a large and lucrative domestic industry is crystal clear. EV start-ups are already taking note, and Canadian investors would benefit from doing so too.
Wouter Witvoet is the CEO and Co-Founder of EV Technology Group, an electric vehicle company founded with the mission of electrifying iconic driving experiences. Wouter is a successful entrepreneur with a deep understanding of tech, investing, the auto industry and electric vehicles. He is passionate about bringing the joy of motoring to the electric revolution.
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