Investing in the Transition to Electric Vehicles

Automotive suppliers are critical for the continued innovation and growth of automakers supporting 10.3 million jobs across the US and Canada, representing 5% of the US GDP, and 11.5% of Canadian manufacturing GDP.

The close partnership between the United States and Canada is key to a growing automotive industry.

This cooperation supports manufacturing of finished vehicles and the production of automotive components and parts.

The demand for electric vehicles is driving a global race to build and secure the automotive supply chain of the future – from extracting and processing raw materials, to expanding battery production, to increasing the footprint of charging infrastructure, and more. 

In November 2023, the Biden Administration announced actions to strengthen supply chains critical to America’s economic and national security. This included direct and public-private funding and loan programs targeting small and mid-sized suppliers to the automotive industry.