Canada’s automotive industry needs to prepare for a big transformation over the next decade for it to remain a key driver of the country’s economy, says a new KPMG report.
“The change is going to be dramatic, even in the next five years,” says Peter Hatges, partner and national automotive sector leader for KPMG in Canada. “Canada can really play a leading role in this transformation.”
With consumers around the world increasingly demanding vehicles with lower emissions, original equipment manufacturers (OEMs) are producing electric vehicles (EVs) that meet legislated emissions mandates and customers’ performance expectations, the report says. If current predictions are realized, the annual global production of electrified vehicles (EVs and hybrids) by the top 12 OEMs will reach as many as 13 million by 2025.
“How we build cars, how they’re supplied, what components go into them, how we maintain them – these will all be completely overhauled,” adds Hatges.
To read KPMG’s full report, click here.
