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As the electric vehicle market focuses on providing higher fuel economy for drivers and lower carbon emissions to eliminate environmental pollution, the EV market is continuously evolving with new developments for the automotive sector.
The most demanding sector for stamping in Canada is still the auto industry. The stamping industry is increasingly concentrating on lightweight materials to provide lighter-weight automotive components with complex geometries, especially given the growing desire to lighten automobiles to better fuel efficiency.
This development has caused many manufacturers to search for machinery and presses that can guarantee structural integrity and satisfy the particular requirements of the automobile sector.
Over the past few years, the market for electric vehicles (EVs) has grown dramatically, changing the kinds of components that manufacturers are stamping.
The Canada EV Stamping Market accounted for $XX Billion in 2021 and is anticipated to reach $XX Billion by 2026, registering a CAGR of XX% from 2022 to 2027.
Manufacturing of pickup trucks will shortly return at General Motors’ Oshawa Assembly Plant, which had ceased vehicle production and is currently being turned into a stamping factory.
That is covered under the new provisional agreement that the automaker and the Unifor auto workers have reached. With Unifor’s assistance, construction on a new body shop and flexible assembly module will start right away.
The next-generation Chevrolet Silverado and GMC Sierra, particularly their heavy-duty models, which are currently in strong demand, are anticipated to start production at the Oshawa truck plant.
In order to develop and produce future electric models like the GMC Hummer EV and Cadillac LYRIQ, General Motors (GM) needs to sell those highly lucrative vehicles.
