12:34:08 EDT Thu 16 Oct 2025
Enter Symbol
or Name
USA
CA



Linamar Corp
Symbol LNR
Shares Issued 59,809,587
Close 2025-10-14 C$ 71.75
Market Cap C$ 4,291,337,867
Recent Sedar Documents

Globe says Magna, rivals hear EV players want mandates

2025-10-15 07:57 ET - In the News

See In the News (C-MG) Magna International Inc

The Globe and Mail reports in its Wednesday edition that the electric vehicle industry warns that the government's decision to drop EV sales targets undermines the Canadian sector and threatens investment and job creation. The Globe's Eric Atkins writes that in September, Ottawa announced it would eliminate the requirement for 20 per cent of car sales to be EVs by 2026 and review the program, which aimed for 100-per-cent EV sales by 2035. Now, 40 executives in the Canadian EV sector are urging Prime Minister Mark Carney to make reasonable adjustments but maintain the existing rules designed to reduce carbon emissions. In an open letter to the PM, the group said, "Canada should stand firm on [sales mandates] and provide clear direction." The decline in EV sales coincides with the loss of federal and provincial subsidies. In the letter, the EV executives call for the reinstatement of the subsidies and for the installation of charging infrastructure to be accelerated. Ottawa's decision to cancel the 2026 sales minimums was welcomed by the traditional car industry, citing declining EV sales and the costs of purchasing credits for not meeting the threshold. Some carmakers have cancelled EV models and delayed EV projects.

© 2025 Canjex Publishing Ltd. All rights reserved.