Canada closing in on deal to get Stellantis battery plant back on track: Champagne

"I would say everyone should take a deep breath, things are going well, the negotiations are progressing," Champagne said following a Liberal caucus meeting in Ottawa.The federal government, Ontario, Stellantis and LG Energy Solution have been in heavy negotiations for a few weeks after the companies paused construction on their planned factory in a dispute over federal subsidies.

That legislation compelled Canada to sign an agreement with Volkswagen to subsidize batteries made at a planned new plant in St. Thomas, Ont., that could be worth up to $13 billion over a decade. The Volkswagen deal includes a clause that ensures Canada's subsidies keep pace with the U.S. tax credits, and if the IRA is reduced or eliminated earlier than planned, Canada's subsidies will go down an equal amount.

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