OTTAWA GIVING VW UP TO $13B IN SUBSIDIES TO LAND E-VEHICLE BATTERY PLANT FOR ST. THOMAS
Apr 20, 2023
By Bob Komsic
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The Trudeau government has agreed to give Volkswagen as much as $13-billion in subsidies over the next 10-years as part of a deal to build an electric-vehicle battery plant in St. Thomas.
The German automaker announced last month it had selected the southwestern Ontario city to build its first overseas gigafactory.
The plant is expected to be the size of 350 football fields.
Ottawa is offering about $700-million in capital grants and to provide up to $13-billion in production subsidies for each battery made and sold.
Industry Minister Francois-Philippe Champagne says the decision’s about ”seizing generational opportunities.”
The Ontario government is also expected to subsidize the project.