Madam Chair, I do believe Volkswagen has written down $6 billion because of losses in electric vehicles. These CEOs are really showing what the market is demanding, and that is not electric vehicles. If we look at Stellantis, for example, it wrote down $26 billion on EV investments. Stellantis cited that its customers were not buying them, and that is why it just could not make a profit from EVs. Just in January, GM, which also received subsidies from the Liberal government and the taxpayer, announced $6 billion of write-downs as well on EV operations. They warned that more EV writedowns may be happening. In December, Ford announced nearly $20 billion of writedowns. It just keeps coming on EV productions. After years of trying to make them profitable, they are just not profitable.
Again, how can the minister stand here and say that the government has spent hundreds of millions of dollars and committed billions more, yet the CEOs themselves are saying that they cannot make a profit with these EVs?