‘We want to build cars in Brampton’: Stellantis CEO as plant sits idle
BNN Bloomberg
Stellantis Canada says it wants to restart production at its idle Brampton plant, even as tariffs and economic pressure weigh on the country’s auto sector.
Canada’s auto industry was hit hard last year after U.S. President Donald Trump imposed a 25 per cent tariff on Canadian-made automobiles, which forced manufacturers to reassess production plans.
Stellantis Canada has been among the companies rolling back output. Its Brampton plant paused operations after the cancellation of its planned Jeep Compass production, which moved to Illinois, leaving 3,000 workers in limbo earlier this year.
Many Canadians depend on that facility, and its future now factors heavily into the company’s next move, Trevor Longley, president and CEO of Stellantis Canada, told BNN Bloomberg during an interview at The Canadian International AutoShow.
“The reality is that we want to build cars in Brampton,” said Longley.
“We’ve been in Canada for 100 years. We’ve been making cars in Canada for 100 years, and we want to continue making cars for the next 100.”
Facing a $1.4 billion deficit shortfall, the provincial government says its large-animal vet service will be privatized over the next three years.
Facing a $1.4 billion deficit shortfall, the provincial government says its large-animal vet service will be privatized over the next three years.
Jurors wade through daunting evidence in high-stakes Meta trial about social media risks to children
A stream of testimony and evidence has been presented in a New Mexico case exploring what Meta knew about the effects of its platforms on children.
Markets in Canada and the U.S. continued to trade lower while oil went up late morning on Friday as inflationary fears prevailed among investors.
Gold prices fell by 1.8 per cent on Friday as the dollar strengthened on a report that the United States will deploy extra troops in the Middle East, fanning concerns of higher oil prices, inflation, and with it, elevated interest rates.
Canada’s federally backed farm lender is offering financial aid to farmers, agricultural businesses and food companies hit by the spike in fertilizer and energy prices, it said on Friday.
Statistics Canada says retail sales were up 1.1 per cent at $70.7 billion in January, led by sales at motor vehicle and parts dealers.
As Qatar reels from an Iranian attack that has hobbled its giant natural gas company, its boss, who doubles as the country’s energy minister, says he had warned officials and executives of just such a danger should Iran’s own sites be hit.
Top Picks from Greg Newman, Senior Wealth Advisor & Portfolio Manager, Newman Group, ScotiaMcLeod
Dan Tobon outlines key market wildcards, including geopolitical risks, AI disruption and shifting investor sentiment.
U.S. stocks are sinking Friday as hopes wither on Wall Street for a possible cut to interest rates by the Federal Reserve this year because of the war with Iran.
Pinterest CEO Bill Ready called on world leaders to ban social media for youth under 16 in a LinkedIn post on Friday.
Wall Street is stumbling toward the finish line of a fourth straight losing week on Friday, but an ease in oil prices is taking some of the pressure off stock markets worldwide.