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With a simple curiosity mortgage, interest accrues daily. As you repay the principal balance, the daily interest cost will decrease. The regulation consists of tax credit for EV patrons, however only if the automobile is largely made and assembled in North America, and its battery makes use of regionally mined elements. According to GM Canada’s David Paterson, this could give Canada a bonus over the U.S. and Mexico. Canada’s automotive industry is primarily located in Ontario and Quebec, with Windsor, Ontario, claiming the title of Canada’s automotive capital.

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