The federal government on June 24 announced a public consultation on potential responses to unfair Chinese competition in the auto sector, including imposing tariffs on Chinese EV imports to protect Canada’s workers and growing EV industry. Ottawa is also accusing Beijing of intentionally creating a global oversupply that will erode Canadian EV producers’ profit incentives.
Meanwhile, the Canada Pension Plan Investment Board (CPPIB) holds hundreds of millions of dollars in shares in the Chinese EV sector, according to its “Foreign Publicly Traded Equities“ report released in March, as first covered by Blacklock’s Reporter.
As of March 31, 2024, stock bought with Canada Pension Plan premiums included $287 million in Contemporary Amperex Technology Co. Ltd., a major EV battery manufacturer in Fujian Province. The pension board also owns $12 million in stock from Great Wall Motor Co. Ltd., known for its Ora-brand electric cars.Other holdings include automakers BYD ($116 million), Li Auto Inc. ($69 million), Chongqing Changan Automobile Co. Ltd. ($26 million), and Nio Inc. ($19 million). Additionally, investments in automotive parts and systems manufacturers include Huizhou Desay SV Auto Co. Ltd. ($13 million), Ningbo Tuopu Group Co. Ltd. ($10 million), and Huayu Automotive Systems Co. Ltd. ($9 million).
